Goodbye and hello
It’s the last working day of the week. Also, it is the last working day of
2018. It’s more expressive if it’s in Pilipino – “tatlong tulog na lang - and it’s goodbye 2018 and hello to 2019.
I excluded the last day of the year in my count because for me it’s sleepless as we all await the dawning of the New Year.
I engaged in separate occasions three outstanding personalities for their assessment of the events that unfolded during the year that is about to pass and their views of the coming year.
“Bleak,” was the curt reply I received from National Artist for literature F. Sionil-Jose on his outlook of 2019. Asked “why?” there was pregnant pause. I detect certain frustration. At 94, known in the literary world as FSJ, Mr. Josh, or just plain Frankie, he had seen a lot. Then, he continued, citing the level of poverty, the unemployment and underemployment, the difficulty of small businesses, especially in the countryside, to access financing with the level of service some banks and financial institutions needing stepping-up. A flash of fond memories of his youth came rushing in…. he reminisced a crossing, frolicking in a river that separates another municipality due to lack of infrastructure. At this point, there was a reversal of role as he asked about the Build, Build, Build program of the government, the budgetary deficit and the borrowings.
Former Bangko Sentral ng Pilipinas Governor Amando “Say” Tetangco, Jr. viewed 2018 as “full of challenges on various fronts” – economic, financial, political and social both here and abroad. He, however, said he believed that the country, was able to face the challenges. “The Philippines has, in general, proven resilient.” However, Gov. Say said “most of the challenges remain. Prudence, vigilance is the name of the game for 2019. “Vigilance, determination, and nimbleness in policy making and implementing will be needed.”
Like Gov. Say, Philippine Stock Exchange (PSE) Chief Operating Officer and Senior Vice President Roel Refran described 2018 as “challenging” but with sprinkled “opportunities.” Investors took a rollercoaster ride because of “heightened volatility.” At the onset of the year, the index hit its historic high, breaching the 9,000 points mark. That was brief, though. Following the resurgence of the ugly head of inflation, the index plunged to 6,900 points. “We saw muted IPO (Initial Public Offering). Only one of the 12 IPOs lined-up for the year came into fruition. On the positive side what softened the market condition was the combined very active private placements and rights offering. For the coming year, Mr. Roel painted a better picture of 2019 with the midterm election providing a shot in the arm.
Before parting, let me remind everyone that today is also, “Ninos Inocentes.” Roman Catholics observe the Feast of the Holy Innocents every December 28 in recognition of the night when King Herod of Judea, fearful of being ousted by the prophesized Messiah, ordered the execution of every single male child in Bethlehem. Mary, Joseph and infant Jesus escaped. Our observance today could be likened to April Fools Day where a friend makes a fast-one on you. Be cautious, you may be the next victim of such a Prank.
In the meantime, let’s enjoy the remaining days of the year. Whatever errors we’ve committed, the omissions, the troubles, the flaws, the pains and heartaches which came our way during the trying times in 2018, these were given us to test our mettle. We have to discern the lessons we learned from our mistakes in order to avoid a repeat. The road to 2019 as pictured by the three personalities is peppered with new challenges and the risks we have to take, But, it’s a new beginning to put our paths back on track – business, political, personal and otherwise.
Talk back to me at sioni731@gmail.com