Protracted rift to jolt economy


WITH the manner members prosection panel at the House of Representatives are behaving, it can be said that there is truth to the belief that there are no good lawyers at the Lower House to make the impeachment of Chief Justice Renato Corona successful.

The members of the prosecution panel appear to be a bunch of amateur lawyers who are simply out to gain media attention. Thus, it is not surprising that there are reports that many private lawyers want to lend the prosecution panel a helping hand.

It’s not sure, however, if the private lawyers want to pin down Corona or they just to want to save the House of Representatives from humiliation.

***

The Bangko Sentral ng Pilipinas (BSP) gave a five to six percent growth forecast this year but warned that the local economy may be affected by a prolonged political conflict in the country involving the branches of government, highlighted by efforts to oust Chief Justice Renato Corona.

Speaking during the Communication and News Exchange (CNex) forum yesterday, BSP deputy governor Diwa Gunigundo said the current political squabbles between Malacañang and its perceived enemies may have adverse effects on the economy if they continue for long. President Aquino is currently waging war against the Supreme Court and former government officials led by former President and now Pampanga Rep. Gloria Macapagal-Arroyo as part of what he calls his administation’s anti-corruption drive.

“Yes, the political conflicts in the country may have some effects in the economy if they become protracted,” Gunigundo said. “This is why in my personal opinion, the issues should be resolved right away,” he added.

In the absence of prolonged political problems, Gunigundo expects improvement in the economy this year owing to emerging signs of recovery of the United States and Europe from the global economic slowdown.

Such signs, Gunigundo said, include the growing retail sales and manufacturing in the United States and the planned establishment of a finance department in Europe.

But in case the situation in the United States and Europe continues to deteriorate, Gunigundo said the Philippines may find opportunities in intra-Asian trade. He said the country can find opportunities in its Asian neighbors that are performing better.

He said countries like Malaysia, Singapore, China and other Asian countries that have big and young populations and liberal capital account just like what Philippines possesses can provide the country the needed push through cross investments and healthy competition.

Last year, the country posted a moderate 3.6 percent growth for the first three quarters.

The BSP attributed the modest gain to government’s weak spending. With the government’s promise to spend massively this year, Gunigundo said the economy will perform even better in 2012.

Earlier, BSP Gov. Amanda Tetangco expressed confidence that the country can withstand the impact of a sustained global economic crunch if the government would maximize the benefits it can get from the buffers it established such as the country sound macroeconomic fundamentals and policy space.

The BSP chief said the planned massive spending of the government will be the main driver of growth in the country.

***

Government authorities expect to catch retired Maj. Gen. Jovito Palaparan in the next few days.

After a failed attempt to get out of the country, Palparan is being hunted down by law enforcers  due to his alleged involvement in the forced disappearances of two activist students of the University of the Philippines several years ago.

Palparan earned the name  ‘Berdugo’ due to reports that he was responsible for the deaths of many individuals with suspected links to the leftist movement.

But law enforcers may find it difficult to arrest Palparan since he could be under the cuddling and protection of  his friends in the military.

Why not? Palaparan, who is being closely associated with former president Gloria Macapagal Arroyo, wasn’t charged of graft and corruption unlike the other generals in the Armed Forces of the Philippines. He is suspected of commanding the killing and disappearance of persons believed to be enemies of the state.

Can we blame Palpararan for hiding from a government notoriously known for its vindictiveness, disrespect  for due process, and defiance of law?

While the present administration is seriously running after Palparan, it’s apparently taking it easy in bringing to justice those who massacred our soldiers in Mindanao last year.

Further, it’s not doing anything to bring justice to those who massacred farmers in Hacienda Luisita many years ago.



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