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                    [ArticleID] => 392705
                    [Title] => WB to lend $250M to RP
                    [Summary] => 



The World Bank (WB) has committed to an annual budget support of at least $250 million for the Philippines provided the government could sustain its macroeconomic policy and reforms.


The initial commitment, however, came with a warning that while revenues from privatization have strengthened the government’s fiscal position, these non-recurring gains should not substitute for a steady and sustained tax collection.
[DatePublished] => 2007-04-02 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) [1] => Array ( [ArticleID] => 390041 [Title] => EDITORIAL — The right jobs [Summary] => It’s good to know that 92.2 percent of Filipinos of working age are gainfully employed — up from 91.9 percent last year, according to the National Statistics Office. The picture would be better if most of those people are employed in regular jobs that pay a decent wage.
[DatePublished] => 2007-03-18 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Opinion [SectionUrl] => opinion [URL] => ) [2] => Array ( [ArticleID] => 388895 [Title] => WB urges more fiscal reforms [Summary] => More reforms and less scrimping is the best way forward for the Philippines, a World Bank (WB) official said Friday, urging the government to take further steps to boost its revenue base.

WB Philippine country director Joachim von Amsberg lauded the government’s fiscal management strategy over the last two years but said new revenue measures were needed to deliver more social services and the infrastructure required for higher economic growth.

President Arroyo stabilized the revenue base with the passage of key tax laws in 2004.
[DatePublished] => 2007-03-11 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Business [SectionUrl] => business [URL] => ) [3] => Array ( [ArticleID] => 388714 [Title] => EDITORIAL - Growth, but not enough [Summary] => The country director of the World Bank said what’s on the mind of people when presented with positive Philippine economic figures: Why isn’t economic growth translating into more jobs and therefore higher income and poverty reduction?
[DatePublished] => 2007-03-10 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Opinion [SectionUrl] => opinion [URL] => ) [4] => Array ( [ArticleID] => 388824 [Title] => RP hailed for success in its fiscal reforms [Summary] => The Philippines' partners for international development lauded the government for its successful fiscal reforms that resulted to an unprecedented three consecutive years of economic growth since 1970. [DatePublished] => 2007-03-10 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Cebu News [SectionUrl] => cebu-news [URL] => ) [5] => Array ( [ArticleID] => 387294 [Title] => WB wants RP fiscal reforms to benefit more people [Summary] => DAVAO CITY – World Bank Country Director for the Philippines Joachim Von Amsberg said the government is on the right track with its fiscal reforms.

However, Von Amsberg also said the "real problem now is how to translate these fiscal reforms into fiscal benefits for more people."

Von Amsberg arrived here yesterday for the fifth meeting of the Mindanao Working Group, an umbrella organization of the various international funding agencies that have initiated projects in the largest island of the Philippine archipelago.
[DatePublished] => 2007-03-01 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) [6] => Array ( [ArticleID] => 387152 [Title] => WB may add sweeteners to sale of TransCo assets [Summary] => The World Bank said yesterday that it is willing to add more sweeteners to the privatization of the government’s power transmission assets, including the possibility of providing guarantees and financing.

WB country director Joachim von Amsberg said discussions between the bank and Philippine authorities are still ongoing, focusing on the possibility of a risk-mitigation instrument that would guarantee the government’s contract with the winning concessionaire for the National Transmission Co (TransCo).
[DatePublished] => 2007-02-28 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) [7] => Array ( [ArticleID] => 382815 [Title] => RP on track to meet fiscal targets — WB [Summary] => The World Bank (WB) has cited the Philippines for gaining credibility in macroeconomic management, saying even the prospect of excessive spending for the elections in May will no longer pose a threat in achieving the country’s fiscal targets for the year.

Joachim von Amsberg, WB country director for the Philippines said the passage of the 2007 national budget is also a welcome development that would provide the appropriate framework for public expenditure.
[DatePublished] => 2007-02-01 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1804901 [AuthorName] => Aurea Calica [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) [8] => Array ( [ArticleID] => 381809 [Title] => Lower GDP growth seen this year [Summary] => The Makati Business Club foresees a much lower gross domestic product (GDP) growth this year of between 5.3 to 5.5 percent, according to MBC chairman Ramon del Rosario Jr.

Del Rosario said the MBC’s slightly lower GDP growth projection is based on a lower agriculture sector growth this year as a result of the calamities that adversely affected the sector in the fourth quarter of last year and the effect of the El Niño phenomenon this year.
[DatePublished] => 2007-01-26 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1805266 [AuthorName] => Marianne V. Go [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) [9] => Array ( [ArticleID] => 375281 [Title] => Manila RTC orders government to re-bid 2007 textbook contract [Summary] => A Manila trial court judge has ordered the government not to bid out the purchase of some 17.5 million copies of elementary books to Vibal Publishing House.

Manila regional trial court Branch 18 Judge Myra Garcia-Fernandez said there is basis to prevent the government to bid out the contract for textbooks to Vibal by pointing out the petitioner, Kolonwel Trading, being the lowest bidder, will suffer "irreparable damage" because of the flawed bidding process.
[DatePublished] => 2006-12-16 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096905 [AuthorName] => Evelyn Macairan [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) ) )
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    [results] => Array
        (
            [0] => Array
                (
                    [ArticleID] => 392705
                    [Title] => WB to lend $250M to RP
                    [Summary] => 



The World Bank (WB) has committed to an annual budget support of at least $250 million for the Philippines provided the government could sustain its macroeconomic policy and reforms.


The initial commitment, however, came with a warning that while revenues from privatization have strengthened the government’s fiscal position, these non-recurring gains should not substitute for a steady and sustained tax collection.
[DatePublished] => 2007-04-02 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) [1] => Array ( [ArticleID] => 390041 [Title] => EDITORIAL — The right jobs [Summary] => It’s good to know that 92.2 percent of Filipinos of working age are gainfully employed — up from 91.9 percent last year, according to the National Statistics Office. The picture would be better if most of those people are employed in regular jobs that pay a decent wage.
[DatePublished] => 2007-03-18 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Opinion [SectionUrl] => opinion [URL] => ) [2] => Array ( [ArticleID] => 388895 [Title] => WB urges more fiscal reforms [Summary] => More reforms and less scrimping is the best way forward for the Philippines, a World Bank (WB) official said Friday, urging the government to take further steps to boost its revenue base.

WB Philippine country director Joachim von Amsberg lauded the government’s fiscal management strategy over the last two years but said new revenue measures were needed to deliver more social services and the infrastructure required for higher economic growth.

President Arroyo stabilized the revenue base with the passage of key tax laws in 2004.
[DatePublished] => 2007-03-11 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Business [SectionUrl] => business [URL] => ) [3] => Array ( [ArticleID] => 388714 [Title] => EDITORIAL - Growth, but not enough [Summary] => The country director of the World Bank said what’s on the mind of people when presented with positive Philippine economic figures: Why isn’t economic growth translating into more jobs and therefore higher income and poverty reduction?
[DatePublished] => 2007-03-10 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Opinion [SectionUrl] => opinion [URL] => ) [4] => Array ( [ArticleID] => 388824 [Title] => RP hailed for success in its fiscal reforms [Summary] => The Philippines' partners for international development lauded the government for its successful fiscal reforms that resulted to an unprecedented three consecutive years of economic growth since 1970. [DatePublished] => 2007-03-10 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Cebu News [SectionUrl] => cebu-news [URL] => ) [5] => Array ( [ArticleID] => 387294 [Title] => WB wants RP fiscal reforms to benefit more people [Summary] => DAVAO CITY – World Bank Country Director for the Philippines Joachim Von Amsberg said the government is on the right track with its fiscal reforms.

However, Von Amsberg also said the "real problem now is how to translate these fiscal reforms into fiscal benefits for more people."

Von Amsberg arrived here yesterday for the fifth meeting of the Mindanao Working Group, an umbrella organization of the various international funding agencies that have initiated projects in the largest island of the Philippine archipelago.
[DatePublished] => 2007-03-01 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) [6] => Array ( [ArticleID] => 387152 [Title] => WB may add sweeteners to sale of TransCo assets [Summary] => The World Bank said yesterday that it is willing to add more sweeteners to the privatization of the government’s power transmission assets, including the possibility of providing guarantees and financing.

WB country director Joachim von Amsberg said discussions between the bank and Philippine authorities are still ongoing, focusing on the possibility of a risk-mitigation instrument that would guarantee the government’s contract with the winning concessionaire for the National Transmission Co (TransCo).
[DatePublished] => 2007-02-28 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) [7] => Array ( [ArticleID] => 382815 [Title] => RP on track to meet fiscal targets — WB [Summary] => The World Bank (WB) has cited the Philippines for gaining credibility in macroeconomic management, saying even the prospect of excessive spending for the elections in May will no longer pose a threat in achieving the country’s fiscal targets for the year.

Joachim von Amsberg, WB country director for the Philippines said the passage of the 2007 national budget is also a welcome development that would provide the appropriate framework for public expenditure.
[DatePublished] => 2007-02-01 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1804901 [AuthorName] => Aurea Calica [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) [8] => Array ( [ArticleID] => 381809 [Title] => Lower GDP growth seen this year [Summary] => The Makati Business Club foresees a much lower gross domestic product (GDP) growth this year of between 5.3 to 5.5 percent, according to MBC chairman Ramon del Rosario Jr.

Del Rosario said the MBC’s slightly lower GDP growth projection is based on a lower agriculture sector growth this year as a result of the calamities that adversely affected the sector in the fourth quarter of last year and the effect of the El Niño phenomenon this year.
[DatePublished] => 2007-01-26 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1805266 [AuthorName] => Marianne V. Go [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) [9] => Array ( [ArticleID] => 375281 [Title] => Manila RTC orders government to re-bid 2007 textbook contract [Summary] => A Manila trial court judge has ordered the government not to bid out the purchase of some 17.5 million copies of elementary books to Vibal Publishing House.

Manila regional trial court Branch 18 Judge Myra Garcia-Fernandez said there is basis to prevent the government to bid out the contract for textbooks to Vibal by pointing out the petitioner, Kolonwel Trading, being the lowest bidder, will suffer "irreparable damage" because of the flawed bidding process.
[DatePublished] => 2006-12-16 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096905 [AuthorName] => Evelyn Macairan [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) ) )
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