June 19, 2018, 12:39 am
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1 Philippine Peso = 0.06887 UAE Dirham
1 Philippine Peso = 2.01763 Albanian Lek
1 Philippine Peso = 0.03375 Neth Antilles Guilder
1 Philippine Peso = 0.52595 Argentine Peso
1 Philippine Peso = 0.02519 Australian Dollar
1 Philippine Peso = 0.03338 Aruba Florin
1 Philippine Peso = 0.0375 Barbados Dollar
1 Philippine Peso = 1.56891 Bangladesh Taka
1 Philippine Peso = 0.03163 Bulgarian Lev
1 Philippine Peso = 0.00708 Bahraini Dinar
1 Philippine Peso = 32.83293 Burundi Franc
1 Philippine Peso = 0.01875 Bermuda Dollar
1 Philippine Peso = 0.02508 Brunei Dollar
1 Philippine Peso = 0.12845 Bolivian Boliviano
1 Philippine Peso = 0.06994 Brazilian Real
1 Philippine Peso = 0.01875 Bahamian Dollar
1 Philippine Peso = 1.26852 Bhutan Ngultrum
1 Philippine Peso = 0.19282 Botswana Pula
1 Philippine Peso = 375.39846 Belarus Ruble
1 Philippine Peso = 0.03746 Belize Dollar
1 Philippine Peso = 0.02475 Canadian Dollar
1 Philippine Peso = 0.0187 Swiss Franc
1 Philippine Peso = 11.85955 Chilean Peso
1 Philippine Peso = 0.12072 Chinese Yuan
1 Philippine Peso = 54.23964 Colombian Peso
1 Philippine Peso = 10.57585 Costa Rica Colon
1 Philippine Peso = 0.01875 Cuban Peso
1 Philippine Peso = 1.78136 Cape Verde Escudo
1 Philippine Peso = 0.41526 Czech Koruna
1 Philippine Peso = 3.32833 Djibouti Franc
1 Philippine Peso = 0.1203 Danish Krone
1 Philippine Peso = 0.92481 Dominican Peso
1 Philippine Peso = 2.19301 Algerian Dinar
1 Philippine Peso = 0.25282 Estonian Kroon
1 Philippine Peso = 0.33377 Egyptian Pound
1 Philippine Peso = 0.51078 Ethiopian Birr
1 Philippine Peso = 0.01616 Euro
1 Philippine Peso = 0.03862 Fiji Dollar
1 Philippine Peso = 0.01411 Falkland Islands Pound
1 Philippine Peso = 0.01411 British Pound
1 Philippine Peso = 0.08774 Ghanaian Cedi
1 Philippine Peso = 0.8783 Gambian Dalasi
1 Philippine Peso = 168.7418 Guinea Franc
1 Philippine Peso = 0.13756 Guatemala Quetzal
1 Philippine Peso = 3.86799 Guyana Dollar
1 Philippine Peso = 0.14715 Hong Kong Dollar
1 Philippine Peso = 0.44823 Honduras Lempira
1 Philippine Peso = 0.11904 Croatian Kuna
1 Philippine Peso = 1.22745 Haiti Gourde
1 Philippine Peso = 5.20533 Hungarian Forint
1 Philippine Peso = 261.11007 Indonesian Rupiah
1 Philippine Peso = 0.06788 Israeli Shekel
1 Philippine Peso = 1.27862 Indian Rupee
1 Philippine Peso = 22.20139 Iraqi Dinar
1 Philippine Peso = 793.5496 Iran Rial
1 Philippine Peso = 2.01763 Iceland Krona
1 Philippine Peso = 2.42115 Jamaican Dollar
1 Philippine Peso = 0.01329 Jordanian Dinar
1 Philippine Peso = 2.07454 Japanese Yen
1 Philippine Peso = 1.89293 Kenyan Shilling
1 Philippine Peso = 1.28161 Kyrgyzstan Som
1 Philippine Peso = 75.86537 Cambodia Riel
1 Philippine Peso = 7.83274 Comoros Franc
1 Philippine Peso = 16.87605 North Korean Won
1 Philippine Peso = 20.66229 Korean Won
1 Philippine Peso = 0.00567 Kuwaiti Dinar
1 Philippine Peso = 0.01538 Cayman Islands Dollar
1 Philippine Peso = 6.31164 Kazakhstan Tenge
1 Philippine Peso = 157.15357 Lao Kip
1 Philippine Peso = 28.23364 Lebanese Pound
1 Philippine Peso = 2.99081 Sri Lanka Rupee
1 Philippine Peso = 2.62835 Liberian Dollar
1 Philippine Peso = 0.2522 Lesotho Loti
1 Philippine Peso = 0.05717 Lithuanian Lita
1 Philippine Peso = 0.01164 Latvian Lat
1 Philippine Peso = 0.02542 Libyan Dinar
1 Philippine Peso = 0.17853 Moroccan Dirham
1 Philippine Peso = 0.31382 Moldovan Leu
1 Philippine Peso = 0.9715 Macedonian Denar
1 Philippine Peso = 25.27658 Myanmar Kyat
1 Philippine Peso = 45.11532 Mongolian Tugrik
1 Philippine Peso = 0.15157 Macau Pataca
1 Philippine Peso = 6.65667 Mauritania Ougulya
1 Philippine Peso = 0.65479 Mauritius Rupee
1 Philippine Peso = 0.29196 Maldives Rufiyaa
1 Philippine Peso = 13.37802 Malawi Kwacha
1 Philippine Peso = 0.38672 Mexican Peso
1 Philippine Peso = 0.0747 Malaysian Ringgit
1 Philippine Peso = 0.2516 Namibian Dollar
1 Philippine Peso = 6.71292 Nigerian Naira
1 Philippine Peso = 0.58522 Nicaragua Cordoba
1 Philippine Peso = 0.15276 Norwegian Krone
1 Philippine Peso = 2.03846 Nepalese Rupee
1 Philippine Peso = 0.02698 New Zealand Dollar
1 Philippine Peso = 0.00722 Omani Rial
1 Philippine Peso = 0.01875 Panama Balboa
1 Philippine Peso = 0.06144 Peruvian Nuevo Sol
1 Philippine Peso = 0.05887 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.23233 Pakistani Rupee
1 Philippine Peso = 0.06922 Polish Zloty
1 Philippine Peso = 105.94412 Paraguayan Guarani
1 Philippine Peso = 0.06825 Qatar Rial
1 Philippine Peso = 0.07529 Romanian New Leu
1 Philippine Peso = 1.18378 Russian Rouble
1 Philippine Peso = 15.92781 Rwanda Franc
1 Philippine Peso = 0.07032 Saudi Arabian Riyal
1 Philippine Peso = 0.1483 Solomon Islands Dollar
1 Philippine Peso = 0.25162 Seychelles Rupee
1 Philippine Peso = 0.33668 Sudanese Pound
1 Philippine Peso = 0.16475 Swedish Krona
1 Philippine Peso = 0.02532 Singapore Dollar
1 Philippine Peso = 0.01412 St Helena Pound
1 Philippine Peso = 0.41639 Slovak Koruna
1 Philippine Peso = 148.88431 Sierra Leone Leone
1 Philippine Peso = 10.53816 Somali Shilling
1 Philippine Peso = 395.79974 Sao Tome Dobra
1 Philippine Peso = 0.16407 El Salvador Colon
1 Philippine Peso = 9.65648 Syrian Pound
1 Philippine Peso = 0.25162 Swaziland Lilageni
1 Philippine Peso = 0.61204 Thai Baht
1 Philippine Peso = 0.04892 Tunisian Dinar
1 Philippine Peso = 0.04288 Tongan paʻanga
1 Philippine Peso = 0.08861 Turkish Lira
1 Philippine Peso = 0.12572 Trinidad Tobago Dollar
1 Philippine Peso = 0.56497 Taiwan Dollar
1 Philippine Peso = 42.52766 Tanzanian Shilling
1 Philippine Peso = 0.49372 Ukraine Hryvnia
1 Philippine Peso = 71.94825 Ugandan Shilling
1 Philippine Peso = 0.01875 United States Dollar
1 Philippine Peso = 0.59066 Uruguayan New Peso
1 Philippine Peso = 148.13426 Uzbekistan Sum
1 Philippine Peso = 1496.34352 Venezuelan Bolivar
1 Philippine Peso = 427.78924 Vietnam Dong
1 Philippine Peso = 2.02025 Vanuatu Vatu
1 Philippine Peso = 0.04811 Samoa Tala
1 Philippine Peso = 10.58541 CFA Franc (BEAC)
1 Philippine Peso = 0.05063 East Caribbean Dollar
1 Philippine Peso = 10.58541 CFA Franc (BCEAO)
1 Philippine Peso = 1.91656 Pacific Franc
1 Philippine Peso = 4.68498 Yemen Riyal
1 Philippine Peso = 0.25181 South African Rand
1 Philippine Peso = 97.30921 Zambian Kwacha
1 Philippine Peso = 6.78605 Zimbabwe dollar

Bicol railway

FOR so many years in the 1960s and the ‘70s, trains and railroad are synonymous with the Bicol region. With narrow and decrepit national highways and municipal roads connecting the Bicol provinces with Quezon, Laguna and greater Manila area, the PNR trains were the best travel option in the Southern Luzon region.

Somewhere along the way, the Manila Rail Road became the Philippine National Railways (PNR) and with the change of name and entity came the gradual slide down, both in area served and the quality of transport service.

The full train route from Tutuban Central station to Legazpi City, a 13-hour overnight trip has been cut from Divisoria to Lucena, then cut further to Calamba, Laguna, and now reaches only as far as Makati.

Such is the sorry state of the nation’s train system, which the Duterte government wants to remedy by way of a railway modernization program to be financed thru a concessionary loan from China and other sources. 

The Chinese government is willing to lend P175 billion for the project, which is expected to jumpstart the massive economic development of the Calabarzon and Bicol areas, creating thousands of jobs for poor residents of these important regions.

Vice President Leni Robredo, who is from Naga City, has criticized this move saying that it would further sink the Philippines into a Chinese debt trap, just as Sri Lanka is now in.

Without referring to any particular interest rate, the Vice President thought that the Chinese loans are onerous. Perhaps not fully aware of how the China-led Asian Infrastructure Investment Bank (AIIB) operated, it should be pointed out to Robredo that Indonesia pays only 2 percent interest on its loan from China, and the Philippines also enjoys similar accommodation.

It is true, however, that Sri Lanka is reeling under the weight of its foreign debts, a big portion of which is from China, but this is because its former President was remiss in vetting big-ticket projects to undertake, like the Hambantota Port that was undertaken hastily and without the proper due diligence or economic viability study. The location itself of the $361-million Hambantota Port is unfavorable to investments, it was pointed out by experts. Without enough income from the project, Colombo had to sell 70 percent or $1.12 billion of the project to China Merchants Ports Holdings which has the expertise to operate the port, and hopefully they could recover some of the investments there.

We note Vice President Robredo’s concerns about foreign borrowings to finance the administration’s “Build, build, build” initiative and her suggestion for the government’s economic team to study all options is well taken. But like others in Asean, the nation should take advantage of China’s current policy of helping its neighbors thru the Belt and Road Initiative.
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