Press Room RSS feed for this section

Focus on development, not just staying afloat

MEASURES TAKEN by the Philippines to keep the economy afloat amid the global slowdown — more public spending and wider access to credit — are correct but policy makers should particularly devote resources to achieving economic development in the medium to long term, a United Nations (UN) official said.

Jomo Kwame Sundaram, UN assistant secretary-general for economic development, said developing countries such as the Philippines should increase investments toward the development of industries.

The Global Financial Crisis and Asia

Developing countries will “bear the brunt of the financial crisis originating in the US and other developed countries.” All economies will in fact be affected by the crisis, albeit differently, contrary to the view that emerging markets are “decoupled” from the US economy.

United Nations Assistant Secretary-General for Economic Development Jomo K. Sundaram gave this assessment in a public lecture on the Global Financial Crisis and Asia held at the Ateneo de Manila University on February 23, 2009. It is interesting to note that the UN was the only multilateral institution that warned of an impending financial crisis as early as 2006.

Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Proin a mauris. Cum sociis natoque penatib

Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Proin a mauris. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Vivamus congue. Phasellus nonummy mi sed sem. Integer suscipit, dolor et mollis gravida, sapien nunc dictum libero, vitae rhoncus tellus felis in eros. Ut nec felis ac tellus pharetra sodales. Donec libero turpis, posuere id, laoreet in, cursus ac, pede. Pellentesque ac enim ac est blandit molestie. Nulla ullamcorper, nisl in hendrerit vulputate, nisl mi posuere magna, in ultricies mauris nulla dignissim turpis. Praesent nunc nibh, dictum consequat, laoreet at, scelerisque at, lacus.

New Year’s Wish List – P55: $1

During a recent forum, Former Budget Secretary Benjamin Diokno proposed that a fixed exchange rate of 55 pesos to the dollar to create a fiscal stimulus of at least P100 billion that would pump prime the Philippine economy in the face of a global economic downturn.

Forum: “Migration, Development and Connectivity”

Action for Economic Reforms (AER), Center for Migrant Advocacy (CMA) and the University of the Philippines School of Labor and Industrial Relations (UP SOLAIR) held a forum on “Migration, Development and Connectivity” on October 23, 2008 at the Isabelo delos Reyes Auditorium, UP SOLAIR Diliman, Quezon City.