President Gloria Macapagal-Arroyo has issued Proclamation No. 1279 declaring Monday, May 14, as a special public (non-working) holiday nationwide "to give the people the fullest opportunity to exercise their right of suffrage" during the national and local elections on that day.

In his weekly press conference in Malacanang this afternoon, Executive Secretary Eduardo Ermita said the President signed the proclamation on Tuesday, April 24.

President Gloria Macapagal-Arroyo thanked outgoing National Treasurer Omar Cruz today for his exemplary service and contribution in the restructuring and development of the Bureau of Treasury during his two-year in service.

Press Secretary and Presidential Spokesman Ignacio R. Bunye said Cruz resigned for family reasons.

In accepting the resignation, which takes effect on June1, this year, the President wished Cruz the best in his future endeavors.

"We’d like to thank Omar for providing sufficient time and making himself available for a smooth transition," Bunye said. "We are thankful for his over two-year service at the Bureau of Treasury, especially because we realize that public service entails a great personal sacrifice."

The search for Cruz’s replacement, according to Bunye, is now undergoing. The President, he said, will make the announcement in due time.

In his regular weekly press briefing this afternoon, Executive Secretary Eduardo Ermita assured the international financial community that the economic indicators of the country are stable and the administration is now looking for someone who could stay on and really help out in further improvement of the country’s economic policies.

He issued the assurance in response to reports that the stock market, particularly the international financial community, reacted negatively following the resignation of Cruz.

In his resignation, Cruz said that he wants to rejoin his family and attend to his ailing 84-year-old mother in the United States.

In his two years in the National Treasury, Cruz was credited for restructuring the Treasury and borrowing/financial operations, active debt and cash management, and the development of the domestic bond/debt market that led to the low dollar and peso interest rates, which have saved billions of pesos for the government.

Executive Secretary Eduardo Ermita said today the existing anti-terrorism law is enough to address the series of killings and election-related violence in the country.

In his regular press briefing in Malacanang this afternoon, Ermita dismissed the proposal of some quarters for President Gloria Macapagal-Arroyo to revive the death penalty law following the escalation of unexplained killings and political violence.

"I don’t think those are enough factors for the President to have second thoughts about abolishing the death penalty especially now that we have the anti-terrorism law. It will be very very helpful in addressing if ever the rise in criminality," he said.

Ermita made the pronouncements in the wake of reports on the series of killings and the allegation that the Philippines is now the transit point of illegal drugs.

"The anti-terror law has enough teeth to face all criminal offenders," he pointed out.

"Whether the country has death penalty, whether it has life sentence or stiff penalties, those are the things that will depend on what the law books say," he explained.

Malacanang has approved the release of a total of P1.76 billion for the repair and rehabilitation of several infrastructure facilities that were damaged by super typhoons Milenyo, Paeng, Reming and Seniang last year.

The release of the rehabilitation funds was earlier recommended by Defense Secretary and National Disaster Coordinating Council (NDCC) Chairman Hermogenes Ebdane Jr.

Executive Secretary Eduardo Ermita said in his weekly press briefing in Malacanang this afternoon that the funds are all chargeable against the Calamity Assistance and Rehabilitation Effort (CARE) provided under the General Appropriations Act of Calendar Year 2007.

In a letter to Ebdane, Ermita said the approval of the requested repair funds is "subject to the availability of funds, provisions embodied in the Omnibus Election Code and other pertinent budgetary, accounting and auditing rules and regulations."

Ermita said P500 million will be used by the National Electrification Administration for the completion of the rehabilitation of the distribution lines of electric cooperatives damaged by the typhoons in Regions III, IV-A and B, V, VI and VIII.

Another P500 million will go to the National Irrigation Administration for the repair and rehabilitation of irrigation systems damaged by the typhoons in 12 regions all over the country. The typhoons destroyed irrigation systems in seven regions of Luzon, plus five regions in the Visayas and in Mindanao (Regions VI, VIII, IX, XI, XII).

On the other hand, P400 million will be used for the repair and rehabilitation of several buildings that were destroyed by the typhoons in state universities and colleges in Regions IV-A and B, V, VI and in the National Capital Region (NCR).

Among the state universities and colleges ravaged by the super typhoons were Bicol University in Albay which will receive P148 million; University of the Philippines-Los Banos (P80 million); Catanduanes State College (P40 million); Camarines Sur State Agricultural College (P40 million); Sorsogon State College (P28.47 million); Laguna State Polytechnic College (P22 million); and the Partido State University in Camarines Sur (P11.53 million).

Meanwhile, P300 million will be released to the Department of Health (DOH) for the repair, rehabilitation and reconstruction of government hospitals, plus the replacement of equipment and facilities damaged by typhoons Milenyo, Paeng, Reming and Seniang in 10 regions from the Cordillera Administrative Region (CAR) in the north to Region VIII in the Visayas.

In his letter to President Gloria Macapagal-Arroyo dated March 16, 2007, Ebdane recommended the release of the amount to the DOH, stressing that "the implementation of these projects will provide quality health services and psychological support to the constituents in the affected areas."