MACTAN ISLAND, Cebu –Bangko Sentral ng PIlipinas Governor Amando Tetangco Jr. said that while Asia has proven its resiliency during the 2007-08 global economic crisis, the risks remain, thus, the focus to prevent experiencing the “new mediocre”.
In his speech during the Official Monetary and Financial Institutions Forum event here Monday, Tetangco said “emerging challenges in the global economy will continuously test the resilience in Asia.”
“Asia's ability to withstand these shocks will crucially depend on the structural reforms and pro-active policies that it will undertake to key areas. A misstep in this direction and Asia may also become the ‘new mediocre',” he said.
DAR installs Bago farmers
A new batch of agrarian reform beneficiaries haveacquired land from their former employer in Bago City yesterday.
The Department of Agrarian Reform 2 in Negros Occidental installed the 46 farmers of Hacienda Weber in Brgy. Don Jorge Araneta formerly owned by Fay Gamboa-Weber.
The land was awarded to farmers almost 5 years since it was covered by the DAR under the Comprehensive Agrarian Reform Program (CARP) after the issuance of Notice of Coverage on November 9, 2012.
Peso closes sideways
MANILA - The Philippine peso closed sideways to settle at Php 50.18 to a United States dollar yesterday.
The local currency slightly shed Php 0.06 from last day's closing at Php 50.12 to a dollar.
It opened the day stronger at Php 50.14 from Monday's Php 50.16 opening rate.
The currency pair traded between Php 50.14 and Php 50.19, bringing the average level for the day at Php 50.16 to a U.S. dollar.