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DOF thanks Congress for swift approval of FIST bill

MANILA, Feb. 18 Finance Secretary Carlos Dominguez III has thanked the Congress for its swift and timely passage of the Financial Institutions Strategic Transfer (FIST) Act, a law recently signed by President Duterte that allows financial institutions to efficiently offload their bad loans and non-performing assets amid the COVID-19-induced global economic slump. “We thank our lawmakers for acting quickly in passing the FIST bill, which was signed into law by the President on February 16, 2021. The bill was passed within the first year of the pandemic, making it an effective measure in ensuring the stability of our financial system amid the global health and financial crises. The FIST law will allow banks to free up much-needed liquidity for lending to the productive sectors of our economy that are crucial to our recovery,” Dominguez said. 

Marawi City Council, Lanao del Sur league of municipalities support 3-year extension of BTA

(Bangsamoro Government PIO / MANILA BULLETIN) On Wednesday (Jan 20) the City Council of Marawi passed Resolution No. 058-01. The resolution states that the local government believes “with trust and confidence in the capacity of the BTA to fulfil its mandate.” The City Council of Marawi City believes that the extension of the transition period “will afford the BTA sufficient time to continue performing its powers and functions and complete its mandate.” The resolution also proposed the city’s representation to the BTA as one of the major cities of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). On Tuesday, January 19, Lanao del Sur’s league of municipalities also expressed their support for the extension of the transition period.

House leaders sign manifesto of support for economic Cha-cha

By ERWIN COLCOL, GMA News Published January 14, 2021 2:31pm Crossing party lines, leaders of various political groups and blocs at the House of Representatives signed a manifesto supporting Speaker Lord Allan Velasco s proposal to amend the restrictive economic provisions in the 1987 Constitution to help the economy recover from the impact of the COVID-19 pandemic. We believe that now is the most opportune time to resume the deliberation on the amendments to the economic provisions specified under Resolution of Both Houses No. 2 for the primary purpose of mitigating and providing lasting solutions to the devastating economic effects brought about by the COVID-19 pandemic, read the manifesto.

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