Updates from the 06 July 2020 IATF-EID briefing


By LCP Secretariat
July 6, 2020 - Quezon City


 Good evening. Here are the updates from the 06 July 2020 IATF-EID briefing:

 
1. ABOT KAMAY ANG PAGTULONG FOR OFWs (AKAP) OF DOLE
• Total amount disbursed – PHP 1.935 Billion
• Approved beneficiaries – 225,977
 
2. HATID TULONG PROGRAM FOR LSIs OF THE OFFICE OF THE PRESIDENT, NTF, OCD
• Total LSI returnees – 62,762
• From 4-5 July 2020, 4,000 LSIs were sent home
 
3. DEPED UPDATES
• Total enrollees – 18,239,528 students
• Public enrollees – 17,401,529 students
• Private enrollees – 818,137 students
• Enrollment has been extended 15 July 2020
 
4. BSP UPDATES
• Economic growth – 2-3.4\\% during the COVID-19 pandemic
• BSP Gov. Diokno reminded banks and credit card companies that there should be no interest on interests and no penalties imposed on late or delayed payments on loans and credit cards.
• BSP has cut interest rate by 175 percent, the lowest interest rate in Philippine history.
• BSP assures that the country’s inflation outlook is good as they expect inflation to be benign or within the target of 2-4 percent for the next three years.
• The country is in a better position to make loans.
• BSP support measures to mitigate economic fallout:
- Policy rate reduced by 175 basis points (BPS)
- Repurchase agreement with the national government amounting to PHP 300 billion
- Purchases of government securities in security market
- Reserve requirement (RR) reduced by 200 BPS
- MSME loans allowed as part of banks’ compliance with RR
- Temporary reduction of term spread on peso rediscounting loans relative to overnight lending rate to zero
- BSP remitted PHP 20 billion in advance dividends to the national government
Philippine Cities Local Issuance on COVID-19
March 18, 2020
Philippine Cities Local Issuance on COVID-19
COVID-19 at PH Cities
March 18, 2020
COVID-19 Cases at Philippine Cities (Source: DOH, 9 August 2020).
 MEMO
Loan Project Financing by the Municipal Development Fund Office (MDFO)
January 24, 2020
We are pleased to inform you of the different financing windows currently being offered by the Municipal Development Fund Office (MDFO) of the Department of Finance (DOF). MDFO is mandated to provide financing for priority development projects of Local Government Units (LGUs) at lower interest rates. Since 1998, the MDFO has been extending loan assistance to LGUs, including free technical assistance in the preparatory stages of project implementation.
Taal Volcano Comprehensive Situational Report
January 14, 2020
To understand the magnitude of the Taal Volcano eruption, we have consolidated the reports from various agencies monitoring the situation. Attached is a copy of a Comprehensive Situational Report obtained from the websites of Philippine Institute of Seismology and Volcanology, Philippine Atmospheric, Geophysial and Astronomical Services Administration, National Disaster Risk Reduction and Management Council, and the Manila International Airport Authority for your reference. We will continually update you of any developments.
 FEATURE CITY