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Tetangco’s ‘colorful’ language

If President Obama considers President Duterte’s language “colorful”, the former should listen to Bangko Sentral Governor Amando M. Tetangco, Jr.

In a recent speech before the Rotary Club of Makati West, Tetangco used “colorful” language, but in a different sort of way. Using HR Ocampo’s painting as his model, Tetangco described the state of the Philippine economy in these terms.

“Just like the strong brown and red base of the painting (HR Ocampo’s), our resilient economy is the foundation for a solid macroeconomic outlook going forward but there are risks on the horizon that threaten to break that solid base, just like the bright oranges break the levelness of the dark browns.”

Our economy is ‘OK”, even doing better than our peers. But we should always be on guard against internal and external risks and ever prepared to take appropriate action to keep our economy strong.

Definitely, Tetangco’s colorful insight is influenced by his daily exposure to the huge art collection of the Bangko Sentral – which was started by then Central Bank Governor Jaime C. Laya. Over the years, subsequent BSP governors acquired more art work so that, at this time, BSP’s collection rivals that of any museum of national standing.

Among those in the collection are the works of Filipino Masters Juan Luna, Felix Resurreccion Hidalgo and Simon Flores as well as National Artists Fernando Amorsolo, Carlos “Botong” Francisco, Guillermo Tolentino, Napoleon Abueva, Victorio Edades , Vicente Manansala , Cesar Legaspi, Hernando R. Ocampo, Arturo Luz, J. Elizalde Navarro , Ang Kiukok, Jose Joya, Benedicto Cabrera , Abdulmari Imao, and Federico Aguilar Alcuaz

But why start an art collection at all? The Central Bank/BSP governors thought, – and art curator Ramon E.S. Lerma agrees – that “preserving the Philippines’ cultural patrimony is just as important as tending to its financial well being.”

The value of the collection is now conservatively estimated at a few billion pesos, more than 12 times the original acquisition cost. Even from a purely financial point of view, it was certainly not a bad investment at all.
What is inclusive growth?

The “in” buzz word nowadays is “inclusive growth”. So nice to hear, but what does that exactly mean to the ordinary Juan and Maria?

Finance Secretary Carlos Dominguez III, one of the co-captains in the Duterte economic team, explains it in this manner.

In his recent message to the Financial Executives of the Philippines (FINEX), Dominguez said:

“The Philippines is at a critical juncture. The next six years can either continue along a path of high economic growth but high socio-economic inequality, or chart a different path towards shared prosperity that will uplift all.

“We envision a country where the poverty rate is brought down from 26 % to 17%, uplifting 10 million Fillipinos out of poverty through investments that create meaningful jobs and an economic strategy that lifts lagging regions into the mainstream. (Federalism?)

“With the Philippines experiencing its strongest economic growth in more than 60 years, we must all do our part to ensure that the entire population shares in that growth”.
Very well said, Secretary Sonny D. Now we now know WHAT direction the Duterte administration is headed. But we also want to know HOW it will go about it.
PNP romance blossoms
You normally see it only in a John Lloyd Cruz movie. But the scene was really happening and on live nationwide TV at that. The scene even went viral on You Tube.

The scenario:
President Duterte had just finished his speech last Thurday at the police headquarters in Camp Rafael Rodriguez in Butuan City. As he was about to leave the stage, a love-struck Police Senior Inspector Arvin Jumillo asked the President for three minutes “sa ngalan ng pag-ibig”.

Arvin then bared his heart out to the President’s aide-de-camp, Police Senior Inspector Romea Ainieza Kinang, his sweetheart for more than 5 years. He promised to devote his lifetime making up for his past shortcomings if only she will marry him.

As this was happening, the song “I Won’t Give Up” by Jason Mraz played in the background.

How could Romea refuse? She extended her hand when Arvin knelt on one knee and offered her their engagement ring.

I could have sworn that everyone onstage was kilig na kilig. And for three solid minutes, there was a total absence of presidential expletives in the air.

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(Atty. Ignacio R. Bunye)