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| 31 MARCH 2007 | ||
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| 31 MARCH 2007 | ||
| Statement of the President Re: Foreign debt |
The yoke of foreign debt is slowly being lifted from the shoulders of the people as the Government continues to respond to one of the most telling issues in our contemporary history. We cannot blame the past for our huge debt burden, but we can do something about it if we keep politics in the sidelines, fix up our fiscal house, shore up investment and growth, and bring the productivity and excellence of the Filipino to the forefront. The declining debt of the country is part of cleaning up the mess of the past and taking the high road to the future. Less debt means a stronger fight against poverty; accelerated debt payments mean broader confidence in the Philippines and more investments and jobs for the people. Less debt also means investing more in people as we pave the way for greater economic and political security to increase our competitive edge in the world and liberate millions from the specter of cyclic destitution. I am determined to strike up the tempo of reform and keep our sights focused on the economy and the people’s business. |
| Statement of Secretary Ignacio R. Bunye Re: Local campaigns |
The start of the local campaigns is a signal of Philippine democracy in full bloom, as all parties, persuasions and ideas come into play to crystallize a vibrant nation moving forward to a brighter future. The Executive Department through the Philippine National Police will continue to stand beside the Commission on Elections to ensure that law and order will prevail before, during and after the electoral process. We urge all candidates to keep the issues at a high level and focus on the interest of the people in a platform-led campaign—and employ the media as a means of enlightenment rather than insidious attack. This country is on the verge of an economic takeoff that can be accelerated by a collective show of force for Philippine democracy in all its positive aspects, untainted by guns, goons and gold. We urge political leaders from all sides at all levels to adhere to the democratic process and follow the road of sobriety, prudence and restraint. |
| PGMA turns over new housing units to Baseco residents |
President Gloria Macapagal-Arroyo turned over today 1,000 units of newly-built houses to residents of the Baseco compound in Tondo, Manila as part of government efforts to provide affordable and decent shelter to poor Filipino families. "Congratulations, you now have your own homes," the President declared as she turned over the symbolic key to Roger Balecoco, president of the Bagong Buhay Village Homeowners Association. The President was briefed on her arrival by Habitat for Humanity president Alberto Jugo and former beauty queen and now co-chairman of the Friends of Habitat Margie Moran-Floirendo on the Bagong Buhay Village project while inspecting the ING Learning center. The Chief Executive then made a tour inspection of the two Habitat for Humanity built model units owned by Mama and Noraida Tasil, and Raul and Jennifer Dagale at Block 1 Alley A. The Baseco Bagong Buhay Village is a thriving and economically sustainable community with its own commercial center stores, salons and other service-oriented establishments. The national government, through the Office of the President in cooperation with Habitat for Humanity and the city of Manila are working together in transforming the Baseco compound into a peaceful and developed community since it was once known as a depressed area where poverty and crime are very common. A typical Habitat for Humanity house has a floor area of 24-30 square meters with lofts that serve as sleeping areas. Each unit costs P70,000 to P150,000 and can be paid for from 10-15 years at no profit and at zero interest, inflation adjusted mortgages. Vice President Noli De Castro, Manila Mayor Lito Atienza, Habitat for Humanity President Alberto Jugo, Friends of Habitat co-chairman Margie Moran-Floirendo, and Barangay 649 chairwoman Teresita Lumactud were present in the rites. The President then motored to Barangay 649, Zone 68 District 5, Bagong Lupa, Port Area and visited the ongoing medical and dental mission of the uniformed men and women of the Armed Forces of the Philippines (AFP). Defense Secretary Hermogenes Ebdane, Jr. told the President that the medical and dental mission is a weekly program of the AFP in depressed areas of Metro Manila. Armed with medical equipment instead of guns, soldiers from the civil military operations battalion and civil military operations group of the Philippine Army (PA) conduct free medical and dental check-up, distributes free medicines, eye glasses, perform circumcision and reflexology treatments to Baseco residents. |
| PGMA: Declining foreign debt means stronger fight vs poverty |
President Gloria Macapagal-Arroyo said today the country’s declining foreign debt is part of her administration’s efforts of "cleaning up the mess of the past " to ensure a stronger fight against poverty. "The yoke of foreign debt is slowly being lifted from the shoulders of the people as the government continues to respond to one of the most telling issues in our contemporary history," she said in a statement. The country’s outstanding external debt dropped by 1.5 percent to $53.4 billion in 2006 from $819 billion in 2005 as a result of the strengthening of the peso against the dollar which led to net principal repayments made throughout the year. On a quarterly basis, the debt stock declined by $694 million or 1.3 percent from $54.1 billion in September 2006, according to the Bangko Sentral ng Pilipinas. The BSP said it recorded net principal repayments of $766 million in the fourth quarter and nearly $1.3 billion for the whole of 2006. The President pointed out that although one cannot blame the past, the country can still do something about the huge debt burden if Filipinos could only ‘keep politics in the sidelines, fix up the fiscal house, shore up investment and growth and bring the productivity and excellence of the Filipino to the forefront." "The declining debt of the country is part of cleaning up the mess of the past and taking the high road to the future," she emphasized. Less debt, the President explained, means a stronger fight against poverty while accelerated debt payment mean broader confidence in the Philippines and more investments and jobs for the people. "Less debt also means investing more in people as we pave the way for greater economic and political security to increase out competitive edge in the world and liberate millions from the specter of cyclic destitution," she said. The President pointed out that she’s determined to ride the momentum of her economic reform measures and remain focused at the task at hand. |
