Being an Overseas Filipino Worker (OFW - yes we have an accronym!), which literally means a Filipino working in another country, we feel the pain when the Philippine's economy is failing. Even though I have been living in the United States for more than six years now, I have been in constant communication with my family and friends back home. Every month I also send money to my parents. And now, I really can feel the dollars leaving my bank account. The current exchange rate is $1.00 = Php 40.00. Thats a big jump from $1 = Php 48-50.00 a few years back. But I know if thats the case, it means the economy of the Philippines is improving. But its not. It is sad that corruption and greed still lingers the realms of the Philippine Government. I was optimistic with President Gloria Macapagal Arroyo as I know she is very smart and with her vast knowledge and experience in Economics, she would be the perfect president to turn the country around. But with all the news about the corruption in her government, it seems that power and money still rules.
Tuesday, April 22, 2008
Oh No!
Being an Overseas Filipino Worker (OFW - yes we have an accronym!), which literally means a Filipino working in another country, we feel the pain when the Philippine's economy is failing. Even though I have been living in the United States for more than six years now, I have been in constant communication with my family and friends back home. Every month I also send money to my parents. And now, I really can feel the dollars leaving my bank account. The current exchange rate is $1.00 = Php 40.00. Thats a big jump from $1 = Php 48-50.00 a few years back. But I know if thats the case, it means the economy of the Philippines is improving. But its not. It is sad that corruption and greed still lingers the realms of the Philippine Government. I was optimistic with President Gloria Macapagal Arroyo as I know she is very smart and with her vast knowledge and experience in Economics, she would be the perfect president to turn the country around. But with all the news about the corruption in her government, it seems that power and money still rules.
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