It is wrong for Phl to loan money to the IMF
Our special presentation on our talkshow on Straight from the Sky, we are greatly honored to have our beloved Eminence Ricardo J. Cardinal Vidal for my second interview with him in his retirement residence in Sto. Niño Village. The last time we had an interview with Cardinal Vidal was in February 2006 during his 75th birthday. Back then he was still the Archbishop of Cebu. But times have changed and he has since retired.
There is no doubt the strong Catholic faith of many Cebuanos stems from Cardinal Vidal’s shepherding his flock. A case in point, at the height of our fight against the Reproductive Health (RH) Bill, Cardinal Vidal was always very clear in his statements against the RH Bill, unlike some bishops I know who give out too many explanations… but would not categorically say that they oppose the RH Bill. With Cardinal Vidal… his teaching is crystal clear.
Under his watch… Cebu will soon witness the canonization of the second Filipino saint, Blessed Pedro Calungsod, and he comes from the Visayas. Where exactly… it is not really known… but it really doesn’t matter. I can see the hand of God in the choice of Blessed Pedro Calungsod because as Cardinal Vidal pointed out… the waiting list (which includes the Great Pope John Paul II and Mother Teresa) is around 3,000 applications. Somehow, Blessed Pedro Calungsod’s documents were given top priority, which is why his canonization will happen this October 21st.
Another great event to happen in Cebu in the Year 2016 is our hosting of the 51st International Eucharistic Congress. This means the eyes of the Catholic world would be focused in Cebu in that year. Hopefully, it could be a time for Pope Benedict XVI to visit Cebu City. We don’t know. But what we do know is, our beloved Cardinal Vidal although retired is busy helping promote Christianity in this part of the world. So watch this very frank and interesting interview with Cardinal Vidal on SkyCable’s channel 15 at 8:00 p.m. with replays on MyTV Channel 28.
*** What is being discussed in many of the coffee houses of this country is the decision of the Bangko Sentral ng Pilipinas (BSP) and supported by no less than Pres. Benigno “Noynoy” Aquino, III pledging to the International Monetary Fund (IMF) US$1 billion in funds that the IMF intends to use to help poor countries and distressed economies like the Euro zone, notably, Greece and Spain. Wait-a-minute! I thought the Philippines is a 3rd world country? Why are we now giving loans to the Euro zone? Sure we can get interests for our money, but hey Pres. Noy! We also need that money here!
This pledge was given by BSP Governor Armando Tetango, Jr. during the Group of 20 Meeting in Mexico. Come now may we ask the good BSP Governor whether he consulted anyone before he made that pledge or commitment to the IMF? Mind you… this is one billion dollars… not in pesos and I can easily give you a wish list of things that this country direly needs in order to improve our economy. For instance, we need funding for the bridge-tunnel to link the island of Cebu to the island of Bohol. If this project was constructed today… it would greatly improve the nation’s economy.
What about the Overseas Filipino Workers (OFW)? Where they consulted about this move to loan a billion dollars to the IMF? If you ask me, Pnoy should have consulted this sector first because they are Filipinos whose annual contributions have increased year on year. I think for the year 2011, it has reached a staggering US$19 billion that our OFWS have contributed to our nation’s coffers and the least that Pnoy should have done is to consult their sector.
I just can’t understand where the priorities of the Aquino Regime lie. Just because our balance of payments has improved after all those years of being an IMF borrower… now we are in a hurry to become a lender? What for? If only Filipinos were asked in a survey whether they would loan that money to the IMF… I’ll bet that the majority would want to keep that money here for projects that we need.
*** I was invited to the media briefing for the upcoming Bus Rapid Transit (BRT) at the Grand Majestic last Saturday noon. It was quite comforting to note that Cebu City’s political leaders, Mayor Michael Rama and Rep. Tomas Osmeña both attended in the media briefing. Of course, they didn’t sit on the same table… nor did they even greet each other. But at least we know that both leaders support the BRT for it is good for Cebu City.
In my book, I support anything that is better than the jeepney, which has been with us since the end of World War II. Supporting the BRT means we support change. I know that the complaint of many people is that the buses won’t stop on their doorstep like the jeepney… so it is time to tell them… go and walk, the exercise will be good for you!