by anyajulia | Jun 26, 2009 | Foreign Exchange, Headlines, Local News / Bohol Balita
The Philippines can tap 1 billion dollars to 1.5 billion dollars in Samurai funds within the year to help finance its projected P50-billion increased 2009 budgetary deficit and other pump-priming projects to sustain modest economic growth. Samurai funds are proceeds of yen bonds that can be issued by international organizations, foreign corporations and foreign governments with a shorter maturity period and usually with a fixed interest rate. The Japanese government earlier announced the Japan Bank for International Cooperation (JBIC) will provide a guarantee of up to 500 billion yen to other Asian countries affected by the global crisis if they will issue yen-denominated Samurai bonds. In a media interview at the Imperial Hotel here, Department of Finance (DOF) Secretary Margarito Teves said the possibility of floating Samurai bonds will likely be one of the topics President Gloria Macapagal-Arroyo will discuss with Japan’s Finance Ministry officials and private financial institutions during her June 17-20 working visit here. Teves said the Philippines can issue Samurai bonds worth 1 billion dollars to 1.5 billion dollars depending on the terms and how much can be availed of from its Official Development Assistance (ODA) package. “We raised our deficit from P177 billion to P199 billion then to P250 billion, so we need to look for other facilities that will help finance this additional deficit,” Teves explained. He said the government has lowered this year’s economic growth projection to between 0.8 percent and 1.8 percent from the earlier target of 3.1 to 4.1 percent due to the impact of the global financial crisis. Presently, Teves said the country’s overall deficit of about 3.2 percent of...
by anyajulia | Jun 23, 2009 | Headlines, Local News / Bohol Balita
THE national government through the Department of Agrarian Reform (DAR) formally opened the gate valves of development to six barangays of Catigbian town as the recent beneficiaries of the prime social justice programs support services as its birthday gift. DAR, through Provincial Agrarian Reform Officer (PARO) Johnson Sinco with Catigbian Local Officials led by Mayor Roberto Salinas and guests launched new agrarian reform communities in Cambailan, Hagbuaya, Bagtic, Bongbong, Mahayag Norte and Mahayag Sur or (CHABBMANS) with accompanying site visits June 17, in time for the town’s diamond jubilee. The new agrarian reform communities would allow the people to get more livelihood support through related agri-based enterprises, says Catigbain Agrarian Reform Officer Laura Lacea. Elated over the development, Mayor Salinas said “People living in these areas longed for this program because they have seen and even indirectly benefited from the projects and programs now experienced by the people of ARC Mantacida and LHAMP KPT ARBS. The six barangays complete Catigbain’s list of beneficiaries who have received different interventions both directly and indirectly by the support services brought by the project. According to Lacea, the interventions are aimed to increase farm production, improve household income and promote sustainable development. In his message delivered during the follow-on program held at the Catigbian Sports Oval, PARO Sinco hailed the physical transformation of the town, which run parallel to the efforts of the DAR in helping farm communities families attain better lives. “Improvements here are incomparable because you have leaders like Mayor Roberto Salinas,” Atty Sinco bared as he italicized that the first wealth of the town is its leaders. He also said...
by anyajulia | Jun 23, 2009 | Headlines, Local News / Bohol Balita
CATIGBIAN showed a masterful stroke to cap the three-day Katigbawan Festival and Diamond Jubilee festivities with its Street-dancing and Exhibition and Fireworks Display its people wanting for more. In most celebrations where activities were clocked to the hour, people would usually feel the strain and the fun would subside naturally after the three-day adrenaline scrapes rock bottom; not for Catigbianons. Still agog and not willing to leave the town Sports Oval after the last remnants of the fireworks display glowed to ember, people lingered, congratulating each other and drumbeats refused to stop. The ten-minute fireworks display came after the Katigbawan Street Dancing and Exhibition Judge Mariquit Oppus announced the winners and the dancing contingents jumped in jubilation. Streetdancing committee chairman Councilor Mariano Maglahus Jr. said this year was a great improvement form last year’s festival as they accepted 9 competition contingents and an overwhelming 17 streetdancing groups from the towns barangays, guest performers and supportive groups. We put up a minimum of 50 to a maximum of 75 dancers and 15 instrumentalists for each secondary school dancing contingent and 30 to 60 in the elementary, he added Defending Champion Catigbian National High School contingent bowed this time to the perfect execution of routines and innovative rendition of the ritual from the town’s Immaculate Mary Academy for the High School category. IMA romped with P25T cash prize and trophies while CNHS got P10 for the high school category. Catigbian West Central Elementary School, bearing Tribu Dagook too romped with the top prize of P10T and major awards for the elementary category as Hagbuaya Elementary’s Tribu Kanggawong settled for next spot...
by anyajulia | Jun 23, 2009 | Headlines, Local News / Bohol Balita
INTERIOR and Local Government Secretary Ronaldo Puno hailed local government initiatives here and candidly admitted Bohol should teach the department about how it is done in Bohol. In his visit to witness the signing of pledge of commitment between the Republic of the Philippines through the DILG, Bohol Provincial Government and the Canadian International Development Agency (CIDA), Sec. Puno said he pays tribute to Bohol for dramatically moving from rock bottom to halfway to the richest of the provinces. He called the LGSP LED as essentially what the department is teaching the Filipinos after the government ahs put up the institutional reforms to capacitate local governments of their devolved powers and their inherent corporate powers according to the local government code. The LGSP LED in would be implemented in the Bohol Integrated Area Development Cluster 5 and would be piloted for interior towns in enhancing governance and stakeholder capacity and in local agri-eco-tourism development. Over this, he thanks the CIDA for believing and recognizing the promise of Bohol. Admitting as a hardcore local government empowerment advocate himself, he told the members of the Provincial Development Council. Peace and Order Council, Sangguniang Panlalawigan, League of Municipalities of the Philippines, Vice Mayor’s League Bohol Chapter and Association of Barangay Councils on a joint meeting that he had goose-bumps when he heard local leaders addressing in the parlance of professionals relishing the full empowered language of the local government’s corporate entity. At the packed Dagohoy Hall of the Bohol Tropics Resort, Sec. Puno also noticed that Bohol has really gone so much since the enactment of the local government code. He heaped...
by anyajulia | Jun 23, 2009 | Headlines, Local News / Bohol Balita
GIPALUBAD ni Gob. Erico Aumentado ang panginahangalng itugyan na sa nasudnong kagamhanan ang ubang parte sa Bohol Circumferential Road Improvement Project 3 aron mamahimo na kining gastogan sa Economic Development Cooperation Fund sa South Korea. Kini samtang napulo ka imprastraktura alang sa turismo ug agrikultura ang gipasupot sa tigum sa Provincial Development Council Executive Committee sa milabayng semana. Lakip na niini ang pagpalapad, pagpahiuli ug pagpalig-on sa kadalanan ug tulay nga naapil sa Tourism Road Improvement Project (TRIP) mga farm to market roads nga magsuporta sa nasudnong agenda alang sa pagpakunhod sa kawad-on, ekonomikanhong pag-uswag ug pagpangandam alang sa katalagman....