We express our most vigorous opposition to the return of the “interest rate cure” to address the economic turmoil besetting the country in the aftermath of the explosion of the jueteng scandal. Recently, the Bangko Sentral ng Pilipinas (BSP) increased reserve requirements and jacked up its overnight borrowing rate by four percent. As an immediate result, prime lending rates have sharply increased, with some banks even charging prime rates above 20 percent. Worse, the BSP is contemplating a higher increase in interest rates to insulate the peso from further attacks.
This time we speak from our heart and soul, and we do so very sadly. Recent revelations–the jueteng scandal– give us no choice but to ask you, President Estrada, to resign and save the country, the people from further harm. In the minds and hearts of the people, you have lost the credibility and the moral ascendancy to lead us.
The current impasse on whether or not to "privatize" NFA has left quite a number of policy makers dumbfounded. This paper briefly reviews NFA's mandate, performance and problems. It also provides an overview of the spectrum of proposals coming from the legislature, NGOs and individuals who have taken a look at NFA up close. Finally, […]
The price of petroleum products has risen sharply two years into the
Estrada administration. The price of petroleum products for motor
vehicles has increased by around 50 percent. Fuel oil, an important
source of power generation, has increased by more than 100 percent. LPG, a principal household commodity, has increased by 90 percent. And there is no end in sight. Just this week the new industry entrants have started raising their prices by around P1 per liter. The big firms are expected to follow suit next week by at least at much. These oil price hikes have enraged the public; transport groups held strikes. Going by media polls, the strikes enjoyed public support.
This policy paper is an assessment of the strengths and weaknesses of the leaseback agreement (LBA) as an agrarian reform (AR) modality based on a comparative study of the LBA experiences of worker-beneficiaries of Dole Philippines (DOLEFIL) in South Cotobato and Filipinas Palmoil Plantations, Inc. (FPPI), the Filipino-Malaysian corporation which has taken over the operations […]
This paper focuses on the significance of Local Government Units (LGU) in agrarian reform and rural development strategies. It then proceeds to discuss the opportunities as well as constraints in bringing about LGU participation in agrarian reform. Finally it presents strategic options in order to instigate LGU participation in agrarian reform.
Undoubtedly, a macroeconomic shock–resulting in an economic slowdown or worse, a recession–aggravates poverty which could lead to irreversible effects on capabilities of the poor. Based on lessons drawn from past crises, this paper attempts to develop a guide for policy-making that is sensitive and responsive to the welfare and interests of the poor. It describes […]