Teodoro Eyed as Next Interior Secretary

President Rodrigo Duterte has once again offered a cabinet position to Gilberto Teodoro, a former official of ex-president Gloria Arroyo and who ran and lost in the presidential election in 2010. Teodoro, who was earlier offered with the defense post, is being coaxed by the president to become the new secretary of the Department of Interior and Local Government. Military chief Eduardo Año was earlier given the position, but his appointmentContinue reading

As Peace Talks Collapse, Commission on Appointments Rejects Leftist Cabinet Member

President Rodrigo Duterte’s fragile alliance with the left continues to deteriorate. The Commission on Appointments (CA) rejected the nomination of Social Welfare secretary Judy Taguiwalo, a respected academe who got the post upon recommendation of the Communist Party. Another left-leaning cabinet member, Agrarian Reform Secretary Rafael Mariano, might suffer the same fate. Duterte had refused to meet with Taguiwalo… Continue reading

Law Prohibits Military Chief Año from Becoming Interior Secretary upon Retirement

President Rodrigo Duterte’s plan to have military chief Eduardo Año assume the interior secretary post after the latter’s retirement in October has hit a snag. The law prohibits members of the military or police from assuming the Interior and Local Government position within a year after leaving the services. Duterte has been stacking his cabinet with former military officers, claiming that government agencies need the discipline that… Continue reading

Robredo is Liberal Party’s New Head

Vice President Leni Robredo has been designated as chairperson of the opposition Liberal Party, with Sen. Francis Pangilinan as the president. The party is keen to reorganize after seeing its ranks decimated by a massive defection to the ruling PDP-Laban party. Administration allies heavily dominate both houses of Congress, with even some Liberal Party members joining the majority. The party used to enjoy wide support… Continue reading

Government Debt Up 66%

Government’s outstanding debt increased by 66 percent to P505.76 billion as of the end of the first half of the year after the successful sale of retail treasury bonds. Of the amount, P366.55 billion came from domestic sources, while the remaining P139.21 billion came from external creditors. President Rodrigo Duterte’s economic team earlier… Continue reading

July 2017 GIR Down to $80.787 Billion

Gross international reserves (GIR) went down to $80.787 billion in July from the $81.321 billion recorded in June. It is also lower than the $85.506 billion posted in July last year. The decline was attributed to outflows arising from payments made by the national government for its maturing foreign exchange obligations, as well as the Bangko Sentral ng Pilipinas’ (BSP) foreign exchange operations. The BSP sometimes uses reserve funds… Continue reading

June Trade Deficit Narrows by 9.3%

Trade deficit narrowed 9.3 percent in June from $2.37 billion to $2.15 billion, as import growth slowed while exports accelerated modestly. Socioeconomic Planning Secretary Ernesto Pernia said trade is expected to grow at faster pace within the second half of the year in line with the recovery of the global economy. Exports earlier recorded a steady… Continue reading