BSP grants regulatory relief for banks affected by ASF, COVID-19

Aileen Cerrudo   •   February 27, 2020   •   691

BANGKO SENTRAL

The Bangko Sentral ng Pilipinas (BSP) will grant regulatory relief to banks and quasi banks (QBs) that sustained losses due to their clients being affected by the African Swine Fever (ASF) and the coronavirus disease (COVID-19).

“We believe that the grant of regulatory and rediscounting relief measures is also applicable to financial institutions whose clients have suffered from adverse effects of these crises,” BSP Governor Benjamin E. Diokno said.

The temporary regulatory relief includes grace periods for rediscounting loans, staggered booking of allowance for credit losses, non-imposition of penalties on legal reserve deficiencies, and non-recognition of certain defaulted accounts as past due.

Diokno said the BSP recognizes the potentially crippling impact of the said events on key industries, which include the tourism industry.

“The BSP’s initial assessment points to a potential dampening impact on the Philippine economy in the near term mainly through disruptions to tourism and associated services,” he said.

The House of Representatives is already tackling the issue on how to compensate for the tourism losses due to the implemented travel ban prompted by the COVID-19 threat.—AAC

Mandaluyong LGU puts city under special concern lockdown

Maris Federez   •   August 4, 2020

MANILA, Philippines — The local government of Mandaluyong has put all barangays in the city under special concern lockdown amid the implementation of the modified enhanced community quarantine (MECQ) in Metro Manila.

Eleven barangays in the city are classified as areas of special concern by the local government due to high cases of coronavirus disease 2019 (COVID-19).

But with the reversion of the National Capital Region (NCR) to MECQ on Tuesday (Aug. 4), the Mandaluyong government decided to put the whole city on special concern lockdown.

Mandaluyong’s Executive Order (EO) No 24 stated that under special concern lockdown, stricter curfew measures will be implemented from 8:00 PM to 5:00 AM.

Only individuals classified as Authorized Persons Outside of Residence (APOR) will be allowed to go out.

The city government is also mulling over applying the previous MECQ guidelines anew, such as on scheduling market days in every barangay.

With the start of the curfew on Tuesday night, the local government advises those who work on graveyard shifts to secure a work pass from their employers.  

“Yung mga work passes kasi ang requirements lang naman niyan per barangay is to ahow to the barangay their ano certificate of employment. para atleast kahit papaano, makapasok sila sa trabaho nila,” said Jimmy Isidro, the Mandaluyong City government chief of staff.

The city government is also considering enforcing liquor ban in the area anew during the MECQ.

Employees at the Mandaluyong City Hall are also on a skeleton workforce to receive documents and transactions as business in the city is open as usual. — (with details from Vincent Arboleda) /mbmf

Former gov’t COVID-19 special adviser calls for voluntary ECQ

Marje Pelayo   •   August 4, 2020

Dr. Tony Leachon

MANILA, Philippines — Former Covid-19 National Task Force Adviser Dr. Tony Leachon said he recommended the re-imposition of enhanced community quarantine (ECQ) in Metro Manila when he was invited to the Malacañan Palace on July 15.

Last weekend, medical professionals expressed the same recommendation to the national government in hopes of stopping the mounting coronavirus disease (COVID-19) cases.

But because of economic considerations, the government has decided to reinforce modified ECQ instead.

Leachon said he welcomes this decision.

“The MECQ has activity and mobility of 50 percent. It will not totally stop the transmission,” he noted.

“But we will observe in the next two weeks whether the MECQ will arrest the transmission,” he added.

He explained that the number of COVID-19 cases in the country is alarming considering that there are unreported cases, or even deaths linked to the new coronavirus.

“When they go to the emergency room they are severely sick then would be intubated and they die, or they are rejected from the hospital so they die at home, or they don’t have access to RT-PCR because it’s expensive” Leachon explained.

So ang daming namamatay diyan na ganyan (So, many cases die that way )” he added.

At this point of the pandemic, Leachon is calling on the public to submit themselves to a voluntary ECQ especially the old and the sick.

Tayo na ang magboluntaryo mismo na huwag na tayo makadagdag. Ang lumabas na lang ay iyong talagang kailangang lumabas, iyong 50% ng workforce (Let’s take it upon ourselves not to add to the problem. Only those who need to go out should be outside, such as 50% of the workforce),” Leachon advised.

“Pero iyong iba, iyong 25% doon sa GCQ ay huwag na po. Huwag na, kasi kapag nagkasakit kayo wala ng pera nga ang government tapos baka magkasakit pa ang mga doktor (But others, the 25% in the GCQ areas, it’s better not to go out. Refrain from going out because once you get sick, the government no longer has funds and worse, the doctors might get sick as well)” he stressed.

Dr. Leachon also highlights the importance of adhering to the minimum health standards, including wearing a face mask and face shield, and using disinfectant for protection. MNP (with reports from Rey Pelayo)

‘No need to panic buy,’ Palace reminds public

Aileen Cerrudo   •   August 3, 2020

Consumers in Metro Manila flocked to grocery stores after President Rodrigo Duterte on Sunday night, approved the reversion of some areas to Modified Enhanced Community Quarantine (MECQ) in response to the medical frontliners’ plea for a two-week “timeout”.

This prompted Malacañang on Monday to remind the public not to panic buy amid the implementation of MECQ in the National Capital Region (NCR).

“Walang dahilan para mag-panic buying. Supplies are high, delivered in supermarkets in anticipation of bigger demand prior to MECQ,” said Presidential Spokesperson Harry Roque.

The Palace official reiterated that only essential establishments will remain open including supermarkets, banks, and hospitals. He also said that the “time out” will be used to strengthen the government’s testing, tracing, and treatment of COVID-19.

“This is primarily to accede to the demand of the frontliners for a break. A ‘time out,'” Roque said. AAC (with reports from Joan Nano)

REACH US

The Philippine Broadcast Hub

UNTV, 915 Barangay Philam,

EDSA, Quezon City M.M. 1104

(+632) 8396-8688 (Tel)

info@untv-newsandrescue.com (General inquiries)

ABOUT UNTV

UNTV is a major TV broadcast network with 24-hour programming. An Ultra High Frequency station with strong brand content that appeal to everyone, UNTV is one of the most trusted and successful Philippine networks that guarantees wholesome and quality viewing experience.