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THE DAY IN PHOTOS: June 11, 2021

ABS-CBN News
Posted at Jun 12 12:09 AM

Here are the day's top stories in photos. Read more »

G7 countries urged to cancel debts in light of COVID-19

Jonathan Cellona, ABS-CBN News
Posted at Jun 11 12:21 PM

A ‘flash mob’ in front of the British embassy in Taguig City to mark the opening of the G7 Leaders’ Summit and to raise the call to “Cancel the Debt” in the face of acute suffering and multiple crises triggered by the COVID-19 pandemic.  Read more »

Samoa's disputed leader promises Chinese-backed port at a third of the cost

Jonathan Barrett, Reuters
Posted at Jun 10 08:01 AM

SYDNEY - Samoa's disputed leader is promising to build a port with Chinese help for $100 million, about a third of the cost proposed earlier, said sources with knowledge of the situation, as he bids to stay in power despite losing a parliamentary majority in a tight election. Read more »

S&P Global Ratings affirms Philippines' investment grade BBB+ rating

ABS-CBN News
Posted at May 27 08:40 PM

Debt watcher S&P Global Ratings affirmed on Thursday the Philippines’ investment-grade credit rating of BBB+ with a stable outlook, saying the country’s economy was beginning to recover from the disruptions of the COVID-19 pandemic.    Read more »

Montenegro learns true cost of China-backed $1B road to nowhere

Olivera Nikolic, Agence France-Presse
Posted at May 27 02:53 PM

Two sleek new roads vanish into mountain tunnels high above a sleepy Montenegrin village, the unlikely endpoint of a billion-dollar project bankrolled by China that is threatening to derail the tiny country's economy. Read more »

Iloilo City hospitals full, can't expand bed capacity due to PhilHealth debt: mayor

ABS-CBN News
Posted at May 24 01:49 PM

Hospitals in Iloilo City are full and state insurer PhilHealth has yet to reimburse their claims, Mayor Jerry Treñas said Monday after the metro was placed under modified enhanced community quarantine to curb the rise in COVID-19 cases. Read more »

Samoa to scrap China-backed port project

Jonathan Barrett, Reuters
Posted at May 20 06:41 PM

Samoa's expected new prime minister has pledged to cancel a $100 million Chinese-backed port development, calling it excessive for the small Pacific island that is already heavily indebted to China.   Read more »

BSP chief says Philippines won’t exceed debt thresholds

Warren de Guzman, ABS-CBN News
Posted at May 20 05:03 PM

The Philippines' debt situation is under control and the country will not exceed its borrowing threshold, the head of the Bangko Sentral ng Pilipinas said on Thursday.  Read more »

Samoa to shelve China-backed port project under new leader

Jonathan Barrett, Reuters
Posted at May 20 09:34 AM

Samoa's expected new prime minister has pledged to shelve a $100 million Beijing-backed port development, calling the project excessive for the small Pacific island that is already heavily indebted to China. Read more »

Bangko Sentral says GIR level hit $107.25 billion in April

ABS-CBN News
Updated as of May 14 03:58 PM

The Philippines' gross international reserves (GIR) level reached $107.25 billion as of the end of April, the Bangko Sentral ng Pilipinas said Friday. Read more »

Unang beses mula 1980s: Ekonomiya 15 buwan nang bagsak

ABS-CBN News
Posted at May 11 08:04 PM

Dahil sa pandemya, limang sunod-sunod na quarter ang pagbagsak ng ekonomiya, na huling nangyari noong 1980s.  Read more »

Red Cross says PhilHealth has paid half its P800-million debt for COVID-19 testing

ABS-CBN News
Posted at May 07 05:07 PM

Medical state insurer PhilHealth has paid half of its multi-million debt for the Philippine Red Cross, which helps government roll out COVID-19 tests, the humanitarian organization said on Friday.    Read more »

ALAMIN: Saan irereklamo ang loan sharks na nangha-harass para maningil?

ABS-CBN News
Posted at May 03 10:19 PM

Dumarami ang kumakapit sa online lending app na nangha-harass sa may utang kapag singilan na.   Read more »

National govt debt hits P10.77 trillion in March

ABS-CBN News
Posted at May 03 05:31 PM

The national government’s total outstanding debt rose to P10.77 trillion as of end-March 2021, the Bureau of Treasury said on Monday.  Read more »

How miserable are we?

Aneth Ng-Lim
Posted at May 03 12:38 PM

The Philippine Misery Index in 2020 rose to 12.9 percent, the highest in 12 years, according to data from the Philippine Statistics Authority and research published by SB Equities Research. Read more »

Why does the Philippines need billions in foreign loans?

ABS-CBN News
Updated as of Apr 30 04:52 PM

The Philippines' foreign debt has ran up to $18.4 billion, as it struggles to contain the spread of the COVID-19 pandemic, the Department of Finance said on Friday.    Read more »

China loans to Sub-Saharan Africa projects rose slightly last year— report

Jevans Nyabiage, South China Morning Post
Posted at Apr 30 01:28 PM

Chinese lenders advanced US$3.3 billion in 2020, a slight increase from 2019’s US$2.2 billion, according to the report from the multinational law firm Baker McKenzie, New Dynamics: Shifting Patterns in Africa’s Infrastructure Funding, which analyses new data from IJ Global.   Read more »

Budget deficit widens to P321.5-B in first quarter as spending rises, revenues fall

ABS-CBN News
Posted at Apr 27 02:30 PM

The Philippines’ budget deficit widened to P321.5 billion from January to March this year, after booking a P191.4 billion shortfall last month, the Bureau of Treasury said on Tuesday.  Read more »

DOJ: Online lending companies that shame, curse borrowers may face charges

Mike Navallo, ABS-CBN News
Updated as of Apr 26 09:05 PM

The Department of Justice warned online lending companies who use unlawful and unfair methods to collect debts that they may face criminal charges. Read more »

Palace: PhilHealth debit-credit reimbursement expands to all high, critical risk areas

ABS-CBN News
Posted at Apr 23 01:02 PM

State medical insurer PhilHealth's faster method of reimbursing the claims by hospitals will now be implemented in all high and critical risk areas for COVID-19, Malacañang said on Thursday.  Read more »