Tuesday, January 29, 2008

IT'S NOT AT ALL BAD IN THE PHILIPPINES (RIGHT NOW)

Ma nem a Borat and I like the Philippines!
Last Christmas, a US based Filipino asked, "We promised our daughter a Manila vacation. Now, we're fearful for her safety. Will she be fine? I heard of balikbayans getting kidnapped"

Here's from another one, "The entire family was supposed to go back for a vacation but at the last minute, my dad said that it is too dangerous".

But in Manila, a young female Australian told me, "If only my parents knew what they're missing by not coming here"

My OFW friends, criminality is everywhere. Most of the country is very safe. Just don't go fooling around in those seedy areas.

Despite the rising prices of basic commodities, countless attempts by some sectors in the military to take over (as if they know how to run the country- can't even annihilate the ragtag NPA's in their territory), a political party system based on accommodations rather than ideology, widespread corruption, etc., the country is doing well.

The government has preterminated a lot of its foreign debts, the prices are growing lower than the rate of the oil prices in the world market and the country is looked upon better than the previous years. Moody's ratings has the official opinion that the country's debt ratings will likely improve (positive) and that is a notch better their recent outlook which was "Stable". Such an outlook is a vote of confidence in the country's economic leadership, despite the widespread perception of graft and corruption in the government. The incidence of poverty and hunger and this country has a long way to go but had Trillanes succeeded last year, I am sure that the outlook will be deep under the ground by this time.

And with the peso increasing it's value over time, may I humbly suggest that our dear OFW's increase their savings deposit in Philippine banks. In the country, they can further diversify their investments for (further safety) by dividing their money in time deposits, OFW bonds, balanced funds (mutual funds), etc.

2 comments:

Sidney said...

Lets hope the US recession will not affect too much the Philippines. It can take six month before we will feel the pinch.

JC said...

Yep,you're right. Money is being pumped into the agriculture (P10~15B) this year hoping that better conditions in that area will empower the country folk and help them in this upcoming period. I hope that corruption does not get in the way.

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