Hello and welcome to the September 2024 roundup of news from the Philippines.
U.S. Dollar to Philippine Peso Conversion rate
The current USD to PHP conversion rate is approximately 55.74 Philippine Pesos for 1 US Dollar.
Former Mayor Arrested in Indonesia
In a major development, Alice Leal Guo, the former mayor of Bamban, Tarlac, was arrested in Indonesia on September 4th after weeks on the run.
Guo, who fled the Philippines in July, is accused of having links to Chinese criminal networks and involvement in illegal gambling operations.
Philippine President Ferdinand Marcos Jr. praised law enforcement for her capture and vowed to pursue justice.
POGO Crackdown Continues
The investigation into Philippine Offshore Gaming Operators (POGOs) has intensified.
On September 18th, a Pagcor official testified at a Senate inquiry that a former Philippine National Police chief was allegedly on Guo's payroll.
This revelation has raised concerns about high-level corruption and the extent of criminal networks in the country.
Immigration and Law Enforcement
The Philippine National Police has ramped up operations against individuals linked to high-profile cases.
Special teams have been formed to track down those who harbored Apollo Quiboloy and Harry Roque, both of whom are currently evading authorities.
Tourists and ex-pats are advised to stay informed about any potential disruptions these operations may cause.
Business Update
In positive news for the automotive industry, motor vehicle sales remained steady in August.
The Chamber of Automotive Manufacturers of the Philippines Inc. reported that 39,155 units were sold, showing a 6.7% increase compared to the previous year.
This growth indicates a robust consumer market, which could be beneficial for businesses catering to tourists and ex-pats.
The Philippines economy posted a growth rate of 6.3% in the second quarter of 2024, which is the fastest growth in five quarters, driven by strong consumption activities.
Inflation
The Asian Development Bank lowered its inflation forecast to 3.6% for 2024, down from its April estimate of 3.8%. This reflects a sustained deceleration in food prices, partly due to lower tariffs on rice imports.
For 2025, inflation is expected to ease further to 3.2%.
Vaccination Drive
President Marcos has approved a 7.9 billion peso budget for a vaccination drive.
This initiative aims to improve public health and safety, which is crucial for maintaining the Philippines as an attractive destination for tourists and ex-pats.
Sports News
The Philippine national chess team faced challenges in recent competitions.
The team, which was previously ranked 7th, has dropped to a share of 21st place. This setback may impact the country's sports tourism sector.
That's all for our September roundup.
We'll continue to monitor these stories and bring you updates on how they may affect tourists and ex-pats in the Philippines.
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