MANILA - Concerns on the Ukraine-Russia tension and higher average domestic inflation projection for this and next year resulted in the upticks of Treasury bill (T-bill) rates on Monday. The average rate of the 91-day paper increased to 0.899 percent, the 182-day to 1.157 percent, and the 364-day to 1.568 percent. These were at 0.810 percent, 1.066 percent, and 1.475 percent for the three-month, six-month, and one-year papers during the auction last February 14. The Bureau of the Treasury (BTr) offered each tenor for PHP5 billion, and the auction committee made full awards across-the-board. Total tenders for the 91-day paper reached PHP13.314 billion, the 182-day at PHP11.49 billion; and the 364-day at PHP11.118 billion. "Rates rose following (the) upward adjustments for inflation this year and increasing tension in Ukraine," National Treasurer Rosalia de Leon told journalists in a Viber message. Last week, the Bangko Sentral ng Pilipinas (BSP) reported the increase of its av
MANILA - The sad situation of persons deprived of liberty (PDLs) at the cramped Quezon City Jail Male Dormitory will drastically improve following the turnover of Phase 1 of the New Quezon City Jail Male Dormitory at Payatas Road on Wednesday. Currently, the old Quezon City Jail Male Dormitory in Barangay Kamuning which houses 3,184 PDLs has a congestion rate of 1,066 percent, a figure far off the livable prison standards. "From the current 1,000 percent congestion rate in the old building, it will be down to 55 percent with the completion of the new Quezon City jail facility. The new facility offers our wards more than enough space to move around and breathe. We can now spare our PDL from a lot of physical, mental, and emotional problems that arise from overcrowding," said BJMP chief, Jail Director Allan Iral, in a statement. Iral thanked all partners in the government and private sector, especially the Quezon City government. He also commended BJMP National Capital Region d