Thursday, February 26, 2015

SIAG Germany law Pave Philippine - German Dual Citizenship starting 2015

DFA PH and German Passports
Image source:

Effective December 20, 2014, children born in Germany after January 1, 2000, to parents who, upon said birth, 1) were both foreigners and 2) one parent has stayed in Germany legally for eight years, and 3) the child has grown up in Germany, can now opt for both German citizenship and the citizenship of their parent's country when they turn 21. Previously, children born to foreign parents had to face the difficult decision of choosing only one citizenship upon reaching 21. For those who were born of Filipino parents, this meant choosing German citizenship over Filipino citizenship.

The amended German citizenship law, the German Nationality Act or StAG, has now abolished the exclusivity rule that obliged children born in Germany of foreigner parents to choose one citizenship over the other citizenship (Optionspflicht). Children born of foreigner (non-German) parents in Germany after January 1, 2000, can now have both citizenships. However, one condition states that they should have grown up in Germany. This means they have been in Germany for eight years or attended a school in Germany for six years, or graduated from school or occupational training in Germany.

The same exemption from the obligation to choose is applicable to those children of foreign parents who were born in Germany between January 1, 1990, and December 31, 1999, and were naturalized, becoming German citizens in the year 2000. For them, they are likewise no longer obliged to choose one from both citizenships and can therefore retain their dual citizenships provided they grew up in Germany.

The changes to the citizenship law will not affect the current rule in the Philippines that children born of mixed marriages (ex. Filipino-German) are entitled to both citizenships (dual citizenship by reason of blood).

Thus, aside from the usual dual Filipino-German citizens, born of mixed Filipino and German parents and who are therefore both Filipinos and German by birth, there is now a newer group of dual Filipino-German citizens. They are those born of Filipino parents, or of a Filipino parent and a non-German parent.

Philippine Ambassador to Germany Melita Sta. Maria-Thomeczek applauded the recent amendments to the German law. Ambassador Thomeczek stated that "the changes to the immigration law are important in ensuring that Germany continues to be an open and multicultural society. It is especially important that Filipino-German youth, many of whom continue to closely identify themselves with the Philippines, are able to stake their claim to their parent's homeland. No difficult decisions will have to be made—the only decision they will have to think about it is when to renew their Philippine passport!" -

Wednesday, February 25, 2015

Mindanao Revenue is 54% of total Philippine earnings, Federalism the last Option for Peace and Development

Proposed Federal States of the Philippines. Source: Rebuilding for a Better Philippines
  • "The unitary system sucks because it boils down to patronage and that the decision-making and sharing of resources are concentrated in Metro Manila," Duterte said
  • Federalism is a fall-back position in Mindanao if the Bangsamoro Basic Law fails.
  • "It is an option acceptable to Nur Misuari and to the rest of Mindanao that contributes 54 percent of the total Philippine earnings from agricultural exports," Duterte said.
  • The current BBL only recognized the MILF -a  Maguindanao tribe leaded revolutionary group and Ignoring the MNLF which is headed by Nur Misuari a Tausug tribe faction, and the original revolutionary group. 
    • Tausug and Maguindanao muslim tribes are foes and fighting each other (Rido)
    • Tausug and Maranao muslim tribes are not also friends (They are avoiding each other)
    • If the Philippines will empower the MILF (Maguindanao) it seems like the government allows the possible massacre of Tausug tribes so there will be no peace at all because Tausug will fights back
    • Separating the 2 muslim tribes into 2 different states as BangsaMoro and Sultanate of Sulu or BangsaSug could be the best solution 
    • Majority of the Tribes in Mindanao are not Muslim. The largest Subanen tribes with territory Span from Basilan island, Zamboanga Peninsula, Misamis Oriental and Occidental, Lanao del norte (Higaonon -Subanen), Cagayan de oro, Gingoog and Camiguin Island are peaceful non-muslim tribes who never been and never converted into islam from the beginning of the History of Mindanao.
    • Second majority tribes which is the Mandaya tribes of Davao provinces, Comval, Agusan and Surigao with its branches such as the the Kamayo tribes, Manobo, B'laan, Mansaka, Tasaday, Mamanwa and other are also non-muslim tribes. The Bukidnon, areas have also other non-muslim tribes which should be given voice like the muslim tribes.
  • "It is acceptable to Palawan that was supposed to earn ₱72 billion from the Malampaya oil fields but is getting nothing in return," he said.
  • Duterte said , under the current unitary system of government, the destiny of the nation is controlled by politicians who come and go, and most of whom do not even know what to do.

Duterte says federalism only way out of the hump for RP

by Jimmy K. Laking 

Davao City Mayor Rodrigo R. Duterte last week told a gathering of Rotarians in Baguio City that federalism is the only option left for the Philippines to reach the development that Malaysia has been able to attain.

"The unitary system sucks because it boils down to patronage and that the decision-making and sharing of resources are concentrated in Metro Manila," he said.

He said federalism is a fall-back position in Mindanao if the Bangsamoro Basic Law fails.

"It is an option acceptable to Nur Misuari and to the rest of Mindanao that contributes 54 percent of the total Philippine earnings from agricultural exports," he said.

"It is acceptable to Palawan that was supposed to earn P72 billion from the Malampaya oil fields but is getting nothing in return," he said.

He said under the current unitary system of government, the destiny of the nation is controlled by politicians who come and go, and most of whom do not even know what to do.

"The House of Representatives decides money matters and what is left after the money is washed and laundered goes to patronage," he said.

He said he sees high hopes in the BBL to achieve peace in Mindanao.

"But if it fails, there is federalism as a fallback and if the rest of the country will not listen to us, hiwa-hiwalay na lang tayo," he said.

He said the conflict in Mindanao has claimed more than 100,000 lives and the island remains a "troubled land."

He said federalism can give the best and the brightest (of people) opportunities in government to prosper but not in a unitary system where the system is closed.

At the same time, he added the people want change but "it is not a change in people, but actually an institutional change."

He dismissed reports that he was interested in seeking the presidency, saying he no longer had the energy for governance.

"Divine intervention could point to anyone but that it is no longer my time," he said.

He said he had no ambition, only a vision of seeing this country go federal to attain the level of development Malaysia has achieved.

Duterte, 79,  a former assistant city prosecutor, has sat as OIC vice mayor of Davao City and has since been a 22-year mayor after that, in addition to having served for one term as a congressman.

Duterte has embarked on a tour of Philippine cities to espouse federalism as option for all Filipinos "to free themselves from an over-centralized rule presided over by politicians that come and go." with sources from RFABP and Baguio Midland Courier 

Thursday, February 19, 2015

Duterte soon to Officially Announce for his 2016 Presidential Race - Saving the Philippines from being fractured


AKSYON | Ayon sa political analyst na si Prospero de Vera, posibleng maging malakas sa Local Government Units si Davao City Mayor Rodrigo Duterte oras na tumakbo siya bilang pangulo ng bansa. Bagay daw na makaaapekto kina Vice-President Jejomar Binay at Interior Sec. Mar Roxas na matagal nang may planong tumakbo bilang pangulo sa 2016 elections. Ang detalye sa ulat ni Jove Francisco.

(Video uploaded by James Relativo;

Manuscript edited by Pepher Operio;

Final editing by Seph Ubalde

For any concerns, you may E-Mail news 5 at more on News5



Wednesday, February 18, 2015

700 KM Railway Project North-South Luzon ready for 5 years Completion

Inquirer file photo

700-Km Luzon rail project readied

MANILA, Philippines–Major components of a Luzon railway master plan spanning almost 700 kilometers will be finished by 2020, part of the government's broader goal to get more of the population to use mass transit systems and eventually reduce private vehicles on the roads, a senior Transportation Department official said yesterday.

The two projects, the 36.7-km North South Commuter Railway from Tutuban to Malolos in Bulacan and the 653-km North South Railway project-South Line (Manila to Legazpi City in Albay), to be implemented under a public-private partnership (PPP) structure, were approved by the National Economic and Development Authority Board on Monday.

The projects, which will "make the most" of the existing Philippine National Railways' right of way, were estimated to cost an initial P288 billion, Transportation Secretary Joseph Abaya said in a press briefing yesterday.

"For a mega city like Metro Manila, a consequence of a growing economy is the growing capacity of our people to own their own vehicles. Clearly, with our traffic, that is not the way to go. And the solution to that natural tendency is to develop mass transit systems," Abaya explained.

Abaya noted that the use of public transportation was still dominant, or 80 percent, against the 20 percent for private vehicles. But these were mainly through "smaller modes" like jeepneys, tricycles and UV Express units, he said.

"The direction is to migrate the smaller PUVs to mass transport systems and eventually migrate private [vehicle] owners into mass transit systems," Abaya said.

The department said the 36.7-km North South Commuter Railway was set to start construction by the first quarter of 2017 and would be completed by the third quarter of 2020 .The government said there would be 15 stations with an estimated 35-minute travel time. Initial demand by 2020 is seen at 340,000 passengers a day.

The larger North-South Railway Project-South Line will initially consist of a commuter railway operation between Tutuban and Calamba, Laguna.

It also includes a long haul railway operation between Tutuban and Legazpi, Albay, and the branch line between Calamba and Batangas as well as an extension between Legaspi and Matnog, Sorsogon. The department said construction here was estimated to begin in the first quarter of 2016 with the start of operations by the first quarter of 2020.

Abaya said the commuter railway be funded either by the government or through an overseas development assistance (ODA) loan. He added that talks were being set with the Japan International Cooperation Agency (Jica) for the latter option. The North South Railway Project-South Line would be funded via the government's PPP scheme, Abaya said.

A so-called phase three in the Luzon railway master plan was also in the pipeline, the department's presentation showed. This consists of a 575-km "long-haul north line" involving a Manila-Tarlac-San Fernando (La Union) stretch, and then Tarlac-San Jose (Nueva Ecija) and San Jose to Tuguegarao in Cagayan. -

Sunday, February 15, 2015

British Journalist and book writer told China Stop claiming Philippine Territory in Spartlys and West Philippine Sea - No Map, No History!

Bill Hayton. SCREENGRAB from YouTube video/BBC
Bill Hayton. SCREENGRAB from YouTube video/BBC
BBC journalist to Chinese envoy: Stop it, make some friends

MANILA, Philippines–A British journalist and author of a book on the South China Sea territorial disputes gave an official of the Chinese Embassy in Manila a dressing down at a forum organized by the Department of Foreign Affairs (DFA) on Friday.

"These countries (in Southeast Asia) are petrified of what you are doing. Stop doing it and make some friends," Bill Hayton, a reporter of the British Broadcasting Corp., told Shan Ao, secretary to the ambassador of China to the Philippines.

Hayton's statement drew applause from the audience, composed mostly of diplomats and government officers, at the DFA headquarters.

Shan earlier approached the microphone during the open forum to point out that China has no intention of waging a war to defend its nine-dash-line claim in the South China Sea.

"China is not going to start a war. It is not true. [What it aims] is peace and stability in the region," Shan said shortly after Hayton gave his lecture on "The South China Sea and China's Geopolitical Interests."

'Collective hallucination'

Hayton and former National Security Adviser and West Philippine Sea coconvenor Roilo Golez were speakers in the conference, which is part of the Foreign Service Institute Mangrove Forum on International Relations.

Hayton is the author of the book "The South China Sea: The Struggle for Power in Asia," published last year by the Yale University Press.

Hayton described as "collective hallucination" China's reclamation works in the disputed reef in the South China Sea, the Panganiban Reef, also called Mischief Reef.

"Why has China screwed up so badly in the last five years? In 2009, the US is worried about the financial crisis, the war in Afghanistan. You have the Arroyo regime which is pro-China, China has just become Malaysia's trading partner. Five years later, everything has gone wrong for China. Why?" Hayton said.

"Why did you muck it up so badly? Is it because of the South China Sea? Why, by attaching that U-shaped line to that map that you submitted to the UN (United Nations) in May 2009, you irritated the entire region," he said.

Just this month, the DFA lodged a diplomatic protest urging Beijing to stop the construction of what appears to be an artificial land in the resource-rich waters of West Philippine Sea.

Participating by nonparticipating

The Philippines has a pending arbitration case against China, questioning the nine-dash-line or U-shaped-line claim over the West Philippine Sea and invoking the United Nations Convention on the Law of the Sea (Unclos).

The International Tribunal on the Law of the Sea (Itlos), a five-man tribunal, is hearing the case of the Philippines against China.

"China is participating in Itlos proceedings by nonparticipating. It is airing its side through other media, without submitting to the Itlos process," Golez said.

If Itlos will decide in favor of the Philippines, Golez believed China will abide by the ruling.

"Other countries will come into the picture. Malaysia, Vietnam will be encouraged to act. It will make China appear like a bully," he said.

At the forum, Hayton expressed his optimism that the Philippines will win the arbitration case.

"I am so confident that the Philippines' case will be successful because on civil geographical description, its description is right," he said, referring to the Panganiban Reef where China has been doing its reclamation works.

He noted that under the Unclos, a reef is not covered by the 200-nautical-mile-zone claim from a country's continental shelf.

Interviewed over ANC on Saturday, Hayton said China was "clearly concerned" about the Philippines' case before the UN tribunal and had offered "various inducements for it to drop its case."

'Smart way to get int'l attention'

"It seems to me a fairly smart strategy for a country which, let's be honest, is militarily weak compared to China," Hayton said.

He said the Philippine case was also a "smart way" to get the international opinion behind it.

The nine-dash claim of China covers 90 percent of West Philippine Sea which would effectively reduce the Philippines exclusive economic zone where it has exclusive rights for fishing, drilling and other economic activities.–With a report from Christine O. Avendaño

China has no historical claim to the South China Sea, says Philippines judge

China has no historical claim to the South China Sea, says Philippines judge
A Chinese Coastguard vessel patrols near the BRP Sierra Madre, a marooned transport ship which Philippine Marines live on as a military outpost, in the disputed Second Thomas Shoal, part of the Spratly Islands in the South China Sea March 30, 2014 - Image: Asiaone

KUALA LUMPUR - China has no historical claim to the South China Sea, as it gave up that right when it became a signatory to the UN Convention on the Law of the Sea (UNCLOS), according to a Philippine Supreme Court judge.

Justice Antonio Carpio said when a country became a signatory to the UNCLOS, it gave up historical claims in exchange for an exclusive economic zone (EEZ), comprising 200 nautical miles from a country's coastline.

"Even if they were not signatories, there is no historical proof that they have owned most of the areas they are claiming, such as the Scarborough and Spratly Islands.

"In ancient Chinese maps dating back to the Song and Qing dynasties, the southernmost territory of China has always been Hainan Island, with its ancient names being Zhuya, then Qiongya, and thereafter Qiongzhou.

"However, in more recent maps, the border has extended to a line of nine dashes, looping down to about 1,800km south from Hainan Island, almost near Sabah," he said when delivering a lecture on the South China Sea dispute at the Raja Aziz Addruse Auditorium here on Friday.

The event was jointly organised by the Bar Council, Universiti Malaya and the Philippine Embassy.

The Chinese government has staked its claim to 90 per cent of the South China Sea, including the Spratly Islands, an archipelago of 750 islands and reefs near the Philippines.

The Philippine government, in response, presented a series of ancient maps which show that islands such as Scarborough were marked as Philippine territory long before it appeared in Chinese maps.

Carpio is visiting ASEAN countries to deliver a series of lectures on the dispute. Malaysia is his first stop.

"We have filed a territory dispute over China's claims with the United Nations, and are waiting for a tribunal to decide on the arbitration case.

"Once the tribunal provides its ruling on the matter, we expect China to abide by it, even if they are not participating in the case before the Permanent Court of Arbitration in The Hague," said Carpio.

The UN tribunal is expected to provide a ruling on the case late this year or early 2016, but Carpio said that would not end the dispute involving the South China Sea, which is either partially or wholly claimed by the Philippines, China, Brunei, Taiwan, Malaysia and Vietnam.

"I think world opinion will be on our side and I don't think any country in the world can for long violate international law especially if there's a ruling by a competent international tribunal.

"If the Philippines wins its case and China refuses to comply with the ruling, we will petition a United Nations council every year until China complies with the decision," added Carpio.

Sources: Inquirer.Net and Asiaone 

USA to the Philippines Air-fare suddenly dropped to $366 USD!. Why What happened?


Why flights from US to the Philippines are getting cheaper

Posted at 02/15/2015 9:34 AM | Updated as of 02/15/2015 9:37 AM

FLUSHING, N.Y. – When Philippine Airlines launched its service in New York beginning in March 2015, most carriers flying to the Philippines lowered their prices.

Usually costing more than a thousand dollars, a roundtrip ticket to the Philippines now averages $800.

Eva Air, Japanese Air, Korean Air, and Asiana all dropped rates from Feb. 6 to May 15 to catch up in the price race.

“Most of the airlines that fly to the Philippines from the US really lowered their prices. It came to a point where flights from the east coast were lower compared to flights from the west coast,” Mango Tours’ Earl Francisco said.

Francisco added that the airlines’ competition to attract Filipino passengers has only one winner – the Filipino passenger.

“Before when you went home to the Philippines, you’d be left without any pocket money after paying for the ticket,” Francisco said. “Now you can have extra pocket money to share with your family.”

The competition continues with Korean Air announcing its latest ticket price drop: $366 for a one way ticket to Manila beginning Friday.

But according to travel experts, these huge drops in airline ticket prices may only be temporary.

Those lower fares will gradually rise again, but possibly not as high as they had been.

“It will still apply even after the peak season,” Francisco said. “So those who have plans to go home for Christmas, if they buy now it will be cheaper.

Travel experts say, the more competition, the better for the Filipino balikbayan flyers.

Read more on Balitang America.



Saturday, February 14, 2015

Manila Government is innocent: MNLF Tausug muslims and MILF Maguindanao/Maranao muslims are also fighting each other- Give 'em Federal Govt for lasting peace

LISTENING TOUR. Duterte visited Dapitan City and Dipolog City in Zamboanga del Norte, and Dumaguete City in Negros Occidental for consultations on changing the government system to federalism. Photo by Gualberto Laput -

Mindanao is boiling, violence may erupt anytime – Duterte

The failure of the proposed Bangsamoro law – stalled since the bloody Mamasapano clash – would be 'tantamount to trimming the MILF's tail,' says the mayor of Mindanao's biggest city

ZAMBOANGA DEL NORTE, Philippines – With the proposed Bangsamoro Basic Law (BBL) stalled after a clash in Maguindano killed 44 police commandos, Davao Mayor Rodrigo Duterte said Mindanao is now "boiling" and violence may erupt again anytime.
"BBL's failure at this stage is tantamount to trimming the [Moro Islamic Liberation Front] tail," Duterte explained. "Delikado kay masamok na pud ni (It's dangerous because it may lead to the resumption of fighting)," he said during a forum here on Thursday, February 12.
Duterte visited Dapitan City and Dipolog City in Zamboanga del Norte, and Dumaguete City in Negros Occidental, on Thursday for consultations on changing the government system to federalism.
He is believed to be doing this so-called listening tour around Mindanao and the Visayas to gauge the chances of a possible presidential bid in 2016.
Duterte, mayor of Mindanao's biggest city, said rebellion now is not mainly fought by armies, "but Mindanao will again experience bombings, ambuscades, assassinations," or there will be sowing of terror in civilian communities.
He said he also has misgivings about some provisions of the BBL. "It's too much too soon, being the product of government peace negotiators who are not from Mindanao, who do not have in-depth understanding of how we live here, our problems and how we solve them."
The mayor said it is vital to understand the diverse cultures of Mindanao relative to peace initiatives because Muslim tribes themselves cannot go along with each other.
"Dili na sila magkasinabot (They can't along). Talk peace with the Moro National Liberation Front (whose members are mainly Tausugs, Yakans, and Samals), and MILF (whose members are Maguindanaos and Maranaws) came out fighting. You talk peace with the MILF, and the MNLF draws its gun."
Duterte likened the Muslim communities in Mindanao to Arab countries. "They are all Muslims, but they still fight with each other. It has nothing to do with religion. It's all tribal."
The Davao mayor added things have been further complicated by the bloody Mamasapano incident. (READ: Duterte: Stall Bangsamoro law until SAF deaths are resolved)
At the surface, he said, it seemed that SAF was sent by a commander who didn't know about the area of their operation. If their commanders knew the area, they should have prepared for the worst.
"Me, I know who can enter any place in that area. I know which police or military units can go to which place. I know the fish vendor who can go there," he said.
Asked how he would solve Mindanao's historical peace and order problem, Duterte quickly answered: "Federalism. And the Muslim tribes must have two states like that of the sultanates before. But if there are two things we should not give up, the military-police force and international relations."

Saturday, February 7, 2015

At China Impasse, Philippines Show of self-reliance in Arm - 2 Naval vessel construction begin in Indonesia + 2 Landing Craft aid from Australia Coming

FILE - The Philippine Navy is upgrading its fleet amid growing maritime disputes. Here, one of its troops fires a .50-caliber machine gun during a bilateral maritime exercise between the Philippine Navy and U.S. Navy in the South China Sea, June 29, 2014 - Image source: VOA

At China Sea Impasse, Manila Bolsters Navy

The Philippine Navy is upgrading its capabilities at a time of continuing tensions with China over disputed territory in the South China Sea.   
In recent weeks, an Indonesian naval shipbuilder started work on two "strategic sealift vessels" that the Philippines is acquiring for more than $87 million and expects within two years, said Commander Lued Lincunad, a navy spokesman.
Each one "will enhance our defense capability and operational capabilities. It has a helipad and can accommodate three choppers at any one time," Lincunad said. Each can be used for command and control, and each "can house a battalion of the marines" and special operations forces.
The vessels represent the navy's latest efforts to control a resource-rich and strategically valuable expanse of ocean.
As part of a five-year, $1.8 billion military modernization program, the navy already has acquired several big-ticket items, including two frigates that used to be U.S. Coast Guard cutters. The nearly 50-year-old ships, retrofitted with modern munitions and companion helicopters, have been patrolling the archipelago's shores for the past two years. 
Four more frigates are on order and another two navy helicopters identical to the three already in use are expected to arrive by May.
Upgrading resources
The Philippines' annual military spending is $2.6 billion, miniscule compared to China's $132 billion military budget in 2014. But Manila has focused its resources on improving its capability to monitor and respond to developments in the South China Sea.
China, which claims practically the entire South China Sea, has steadily increased its presence in the contested region in recent years. Now, Chinese construction teams are reclaiming land on outcroppings among some of the Spratly Islands that the Philippines claims.
Chinese surveillance ships have also regularly driven away Philippine vessels from contested reefs and shoals, including Scarborough Shoal, which the Philippines says is well within its 370-kilometer exclusive economic zone. Vietnam, Taiwan, Malaysia and Brunei also have claims in the resource-rich sea.
Philippines, Japan make pact
Last week, the Philippine Department of National Defense and Japan's Ministry of Defense for the first time signed an agreement to forge closer defense ties on matters such as joint military drills and cooperation on global security.
Without giving specifics, officials said both countries share the same view on the situations in the South China and East China Seas, where China's high visibility has raised anxiety among its neighbors.
National defense spokesman Peter Paul Galvez said the Philippines is looking for support from Japan in intelligence, surveillance and reconnaissance. "Any of those capabilities where they could probably help us out, that's what we're requesting," he said.
The Philippines is building an $18 million coast watch command center. It will coordinate communications among the navy, coast guard, maritime police and other agencies to guard its maritime borders. Lincuna said the watch system includes a network of land- and ship- based surveillance equipment.
Galvez said the country is also looking to Japan for help with humanitarian and disaster relief capabilities.
Show of self-reliance
The Philippines' small-scale buildup demonstrates to the United States, its only treaty ally, that it is helping itself and not just relying on outside partnerships, said Carl Thayer, a Southeast Asia security analyst with the Australian Defense Force Academy.
Now if Filipino warships are attacked, "that triggers consultations with the United States," Thayer said. "It doesn't mean they [Filipinos] have to be reckless. It means that China now has to take into account those vessels. You call that extended deterrence: You punch the Philippines, you get Uncle Sam behind them."
The Philippines is also keeping up and building strategic partnerships with other neighbors. Last week, the Philippine and Vietnamese foreign ministers held talks on strengthening security ties.
Australia announced last week it will donate to the Philippines two refurbished 40-year-old landing craft vessels capable of transporting "large amounts of cargo, personnel and equipment" to hard-to-reach shores. - Voice of America

Friday, February 6, 2015

Philippines' FOREX Forex reserves hit $80.18 Billion USD in Jan 2015

Forex reserves hit $80.18 B in Jan 2015. Image source:

MANILA, Philippines - The country's gross international reserves went up in January from end-2014 level, driven by an upward adjustment in the Bangko Sentral ng Pilipinas' gold holdings, government's foreign currency deposits and foreign exchange inflows.
Central bank data showed the country's GIR amounted to $80.18 billion last month, higher than the revised $79.54 billion in December last year.
"The increase in reserves was due mainly to the government's net foreign currency deposits, revaluation adjustments on the BSP's gold holdings and foreign currency-denominated reserves, and income from its investments abroad," the BSP said.
These were partly counterbalanced by payments made by the government for its maturing foreign exchange-denominated obligations, the central bank said.
The GIR reflects a country's ability to pay for imports of goods and services and to service foreign debt.
The latest figure is enough to cover 10.3 months' worth of the imports of goods and payments of services and income.
Moreover, this is also equivalent to 8.3 times the country's short-term external debt based on original maturity and 5.7 times based on residual maturity.
BSP data also showed net international reserves of GIR less the short-term debts also rose to $80.18 billion as of end-January, up from the $79.54 billion in December.
Last year, the $79.54-billion figure in end-2014 was within the central bank's estimate of a $79-billion to $80-billion reserves during the period.
In 2013, foreign exchange reserves summed up to $83.187 billion, slightly below the $83.572 billion in 2012. - philSTAR


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