The Philippines' outstanding debt soared past 9 trillion pesos (roughly 183.9 billion USD) as of the end of June as the government borrowed more to fight the COVID-19 pandemic, the Philippines Bureau of Treasury said.
Hanoi (VNA) - The Philippines' outstanding debt soared past 9 trillionpesos (roughly 183.9 billion USD) as of the end of June as the governmentborrowed more to fight the COVID-19 pandemic, the Philippines Bureau ofTreasury said.
The total debt stock for June reached 9.05 trillion pesos, an increase of 163.3billion pesos or 1.8 percent compared to May due to the net issuance andavailment of domestic and external financing, the treasury bureau said in astatement.
Of the total outstanding debt stock, 32 percent were sourced externally while68 percent are domestic debt.
Data from the Department of Finance (DOF) of the Philippines showed that fromJanuary to June, the government has availed programme loans worth 216.3 billionpesos (roughly 4.4 billion USD) for coronavirus response, with 130.5 billionpesos (roughly 2.6 billion USD) from the Asian Development Bank and 85.8billion pesos (roughly 1.74 billion USD) from the World Bank.
The Philippines' debt-to-GDP ratio before the COVID-19 strike was at only 39.6percent in 2019./.
The Philippines’ gross domestic product (GDP) will likely shrink by 5.7-6.7 percent in the second quarter of 2020, much higher than the 0.2 percent contraction in the first quarter, according to Governor of the Bangko Sentral ng Pilipnas (BSP) Benjamin Diokno.
Philippine Defense Secretary Delfin Lorenzana has raised alarm over China's holding of military exercises in the East Sea, saying the move could create tension in the region and impact Beijing’s relationship with its neighbours.
The Philippines and the World Bank have signed a loan agreement worth 370 million USD for a project to support local farmers, the Xinhua news agency reported, citing the Philippines’ Department of Finance (DOF) as saying on July 20.
The strict lockdown measure has proven effective, helping the Philippines prevent 1.3 million - 3.5 million infections, said Philippine President Rodrigo Duterte.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
A corner of Manila (Source: internet) 
