Day: June 30, 2021

KUALA LUMPUR— Malaysia’s official reserve assets amounted to US$110.94 billion as of end-May 2021, in accordance with the International Monetary Fund’s Special Data Dissemination Standard (IMF SDDS) format.

 

In a statement Wednesday, Bank Negara Malaysia (BNM) or Central Bank of Malaysia said other foreign currency assets stood at US$882.8 million.

 

The central bank said the detailed breakdown of international reserves based on IMF SDDS format provides forward-looking information on the size, composition and usability of reserves and other foreign currency assets, and the expected and potential future inflows and outflows of foreign exchange of the Federal government and BNM over the next 12-month period.

 

“For the next 12 months, the pre-determined short-term outflows of foreign currency loans, securities and deposits, which include scheduled repayment of external borrowings by the government and the maturity of foreign currency Bank Negara Interbank Bills, amounted to US$6.08 billion,” said the central bank.

 

“The short forward positions amounted to US$8.34 billion while long forward positions amounted to US$880 million as of end-May 2021 reflecting the management of ringgit liquidity in the money market, it said in an explanatory note on “Detailed Disclosure of International Reserves as at end-May 2021” released Wednesday.

 

In line with the practice adopted since April 2006, BNM said the data excluded projected foreign currency inflows arising from interest income and the drawdown of project loans amounting to US$2.37 billion in the next 12 months.

 

It said the only contingent short-term net drain on foreign currency assets are government guarantees of foreign currency debt due within one year amounting to US$389.1 million.

 

“There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks and other financial institutions.

 

“BNM also does not engage in foreign currency options vis-à-vis ringgit,” it added.

 

Source: NAM NEWS NETWORK

KUALA LUMPUR— The World Competitiveness Yearbook 2021 has ranked Malaysia’s global competitiveness at 25th place from out of 64 economies, an improvement from the 27th position in 2020.

The International Trade and Industry Minister Mohamed Azmin Ali said in the World Bank’s Ease of Doing Business 2020 ranking, Malaysia held second position among 190 economies in dealing with construction permits.

“Nevertheless, while this shows that reform initiatives are working, there is still more to be done to ensure that our regulations are agile enough to respond to changes,” he said in his speech during the virtual official launch of “Productivity Report 2021 – Boosting Productivity: Reset, Reform, Rebound”.

Meanwhile, Malaysia Productivity Corporation (MPC) director general Abdul Latif Abu Seman said Productivity Report 2021 takes a different approach this year, focusing directly on the issues and challenges which impede productivity growth against the worst health and economic crisis and spotlighting the recommended solutions to manage these barriers.

“In addressing the pronounced challenges to productivity and in the effort to boost its growth, this year’s theme for the report summarises the journey – reset and reform, which eventually leads to productivity rebound.

“The recommendations presented in the report align with the government agenda through its various economic stimulus packages and recovery plans. Aptly implemented, the solutions are expected to escalate productivity growth, and subsequently enhance business revival and recovery,” he said in his welcoming speech.

Within the business environment, Abdul Latif said, regulations play an important role to enhance the ease of doing business.

“Managing the regulatory concerns from the industry, especially from businesses affected by the pandemic, is more urgent now to facilitate their recovery.

“Regulatory reform is a must to reduce the unnecessary regulatory burdens on businesses and formulate policies which are more conducive to business efficiency. PEMUDAH or the Special Taskforce to Facilitate Business, working with MPC as the secretariat, has been steadfast in regulatory reforms,” he said.

Meanwhile, in his message in the report, Mohamed Azmin said the outlook is positive for Malaysia, underpinned by the National COVID-19 Immunisation Programme, which is progressing well to reach as many citizens as possible and as quickly as possible.

“The government has also launched and implemented several stimulus packages to ease the burden of the business community and the rakyat in general. Incentives and programmes are implemented to address issues on employment, loss of revenue, and business environment.

“Great attention will continue to be given to digitalisation and technology adoption as tools to accelerate economic recovery. With these synergistic efforts in place, there is certainly an air of optimism for 2021 to be an inflection point for both holistic health and economic recovery,” he said.

The minister said that COVID-19 pandemic has caused unprecedented health and economic crisis which has affected the lives and livelihoods of the people, resulting in a huge decline in productivity growth by -5.5 per cent last year due to the jarring disruptions.

“We have striven to overcome the various obstacles by setting in motion opportunities that have changed the trajectory of our lives for the better,” he said.

According to Mohamed Azmin, Bank Negara Malaysia, in its first quarter performance report published in May 2021, has forecast that Malaysia’s economy is to remain on track to achieve the projected growth of 6.0-7.5 per cent in 2021.

This, he said, denotes a rebound in labour and capital productivity being underpinned by broad-based economic recovery across most sectors.

“While 2020 saw the execution of brave but necessary measures to flatten the curve of infections, the government, armed with valuable virological data, implemented more prudent measures in 2021 to curb the virus from spreading exponentially, pivoted on the overarching objective to protect the lives of the rakyat and to simultaneously ensure the revival of the country’s economic growth,” he added.

 

Source: NAM NEWS NETWORK

MALE– President of Maldives, Ibrahim Solih, said that, his country will reopen borders to arrivals from South Asian countries, subject to an assessment of the COVID-19 situation in each country, on July 15, local media reported today.

 

Solih, in a public statement yesterday, said that, the primary objective of his government is to restart the country’s economy, amid the extended lockdown restrictions necessitated by the third wave of COVID-19 infections that peaked in May.

 

Solih said that the ongoing curfew hours would be reduced to 8:00 p.m. to 4:00 a.m. starting tomorrow. All categories of businesses, including restaurants, gyms and salons, will be permitted to resume operations during non-curfew hours, he said.

 

Requirements for residents to carry a special pass while travelling during non-curfew hours will be stopped. Mosques will be allowed to resume services under social distancing guidelines. Individuals who have contracted and recovered from COVID-19 will be allowed to travel among islands, without the need for mandatory quarantine.

 

Source: NAM NEWS NETWORK

PUTRAJAYA— The government will reconsider its previous decision to administer the Pfizer COVID-19 vaccine to adolescents, following reports of incidents of side effects relating to heart inflammation, especially among male recipients.

 

National COVID-19 Immunisation Programme Coordinating Minister, Khairy Jamaluddin, said that his party, together with the Ministry of Health (MOH) and the Ministry of Education (MOE), would hold a meeting to discuss the issue.

 

“We are monitoring developments regarding these side effects but it does not change our acquisition decision regarding Pfizer.

 

“It’s just that it has to do with the decision on whether we want to administer Pfizer to teenagers because the incidence of heart inflammation among the group is quite high,” he said in a press conference on the development of the immunisation programme today, which was also attended by Health Minister, Dr Adham Baba.

 

Khairy said that the issue regarding the side effects of the Pfizer vaccine had been presented by the Special Committee on COVID-19 Vaccine Supply Access Guarantee to him and Dr Adham.

 

Recently, the United States Food and Drug Administration (FDA) planned to update the guidelines for administering Pfizer and Moderna COVID-19 vaccines to adolescents and young people, after discovering the possible risk of heart inflammation.

 

The government, on June 21, approved the administration of the Pfizer vaccine to children aged 12 and above.

 

Asked whether the government planned to speed up the interval of receiving the second dose of AstraZeneca vaccine from 12 weeks to six weeks, especially for the elderly, he said the matter would be announced tomorrow.

 

Khairy, who is also the Minister of Science, Technology and Innovation, said that the government was still considering the ‘mix and match’ method of the two types of COVID-19 vaccine.

 

“For now, you will be given the same second dose as your first dose. For AstraZeneca, the second dose will also be AstraZeneca,” he said.

 

Meanwhile, when asked to comment on Health director-general, Dr Noor Hisham Abdullah’s tweet on the effectiveness of AstraZeneca and Sinovac vaccines against Delta variant of concern (VOC), Khairy said that thus far all COVID-19 vaccines used in Malaysia were still able to protect individuals from COVID-19 variants.

 

“Although there may be differences in terms of the effectiveness of the vaccine against VOC Delta, it (vaccine) still protects you. Hence, whatever vaccine you are offered, please take that vaccine. Vaccines (that) we are administering, will give you protection against the VOC,” he said.

 

Dr Noor Hisham, in a tweet earlier today, said that one dose of Pfizer or AstraZeneca vaccine only provides around 33 per cent protection against symptoms from Delta variant; two doses provide between 88 per cent (Pfizer) and 60 per cent (AstraZeneca) protection against symptoms.

 

In another development, Khairy said that the country’s vaccination rate continued to increase, and was consistent with the average vaccinations administered over the past week (June 21-27), with an increase of 19 per cent compared with the previous week (June 14-20).

 

“This shows the consistency in the vaccination rate, which is currently being intensified,” he said, adding that on Thursday the country reached a new record, of 268,604 shots administered in a day.

 

In another development, Khairy said that a special unit is being set up in collaboration with the COVID-19 Immunisation Task Force (CITF) and the Royal Malaysia Police (PDRM), to investigate complaints regarding sales of vaccines and follow-up appointments.

 

“I’ve spoken to police, and they are setting up a special unit or team to work together with CITF to investigate these claims,” he said.

 

Khairy said that he had also asked the police to act immediately and arrest individuals found selling vaccine doses and appointment slots under the immunisation programme.

 

The CITF lodged two police reports, on June 14 and 20, as a result of public complaints about alleged vaccine sales activities.

 

 

Source: NAM NEWS NETWORK

Follow Up General Assembly’s Call to Halt Weapons Transfers

 

In mid-June, the United Nations General Assembly urged member countries to halt arms transfers to Myanmar. It’s now up to the UN Security Council to formally impose a global arms embargo on the military junta that took power in a February 1 coup to help end the massive human rights abuses by the country’s security forces.

 

The General Assembly’s June 18 resolution received 119 votes in favor. The only state to vote against it was Belarus, a serial rights-abuser. After months of negotiation, the resolution offered a strong condemnation of the coup from the UN’s most representative body and sent a clear message to Myanmar’s junta that the majority of governments are outraged by its abuses.

 

That message stands in sharp contrast to the Security Council’s failure to do more than issue three statements calling for the release of political prisoners and an end to the violence.

 

Since the coup, security forces in Myanmar have killed nearly 900 people, including dozens of children, and detained more than 6,000 people. Human Rights Watch and more than 200 other organizations have called on the Security Council to impose a global arms embargo on Myanmar. The UN high commissioner for human rights, Michelle Bachelet, has warned that Myanmar could become another Syria.

 

As the Security Council’s designated “penholder” on Myanmar texts, the United Kingdom has for years taken an overly cautious approach to Myanmar at the council, focusing on anodyne statements instead of pushing substantive measures like an arms embargo. At the same time, the UK government has joined other governments in imposing its own sanctions on Myanmar’s military and entities linked to it.

 

Council diplomats cite fears of a Chinese veto as one reason for not circulating a draft arms embargo resolution. Their concerns are not unfounded. But China was among the 36 countries that abstained in the General Assembly’s vote. Also, most members of the Association of Southeast Asian Nations (ASEAN) voted in favor, including current Security Council member Vietnam.

 

Equipped with the public endorsement of the General Assembly, council members that want to reverse the deteriorating human rights situation in Myanmar have no more excuses for inaction. They should draft a legally binding resolution requiring states to halt arms sales and take on this human rights crisis with the urgency it deserves.

 

 

Source: Human Rights Watch

Philippine Embassies, Consulates General, Philippine Missions, and Consular Offices joined the nation in celebrating the 123rd Anniversary of the Proclamation of Philippine Independence on 12 June 2021 with the theme, “Kalayaan 2021: Diwa sa Pagkakaisa at Paghilom ng Bayan”.

 

Due to the pandemic, the majority of the Foreign Service Posts including  in Germany, Poland, Belgium, Argentina, Cambodia, Kuwait, Japan, Malaysia, Laos, Canada, Denmark, Turkey, South Africa, South Korea, and the Philippine Missions to ASEAN and New York held their flag raising ceremonies and celebrations virtually.

 

A number of Posts were finally able to celebrate the event by holding the flag raising ceremonies in person at their respective chanceries such as those in Rome, Bern, Lisbon, Ottawa, Vancouver, Calgary, Brunei, Nagoya, Rabat, Nairobi, Canberra, Jakarta, Bangkok, Thailand, Singapore, Doha, Vatican, Hanoi, Guam, Houston, and Athens. Full observance of health protocols were observed, in accordance with existing COVID-19 safety regulations in their respective host countries.

 

Several Foreign Service Posts also took the occasion as an opportunity to recognize modern-day heroes who have been dedicating their lives in the service of the Filipino people in the midst of the pandemic.

 

In New Zealand, Myanmar, and Israel, Filipino and local community leaders, frontliner volunteers, and Embassy emergency coordinators were given Distinguished Service Commendation Awards. The Philippine Consulate in Dubai awarded the Dakilang Bayani (Noble Hero) Award to outstanding Filipino expats in Dubai and the Northern Emirates. In the United Kingdom, the Embassy honored the vital roles and the sacrifices of Filipino nurses and other health care workers and seafarers during the pandemic.

 

Virtual concerts were also held in Germany, Iran, Saudi Arabia, and the United States featuring Filipino music and sounds, as well as, other cultural performances. Philippine Consulates in Frankfurt, California, and Chicago  featured a Filipino music scholar in Germany, Filipino American talents, and local Filipino restaurants, respectively. While in Washington and Hong Kong, Posts highlighted the forthcoming 75th Anniversary of the Establishment of Diplomatic Relations between the Philippines and the United States, and the friendship between Philippines and Hong Kong, respectively.

 

The Philippine Embassy in Mexico’s celebration featured Philippine indigenous heritage and cuisine, while the Embassy in Stockholm and Consular Office in General Santos’ celebrations focused on Philippine culture and tradition. The artistic talents of Filipino artists in Sweden were showcased, and PH’s intangible cultural heritage –specifically the Blaan’s traditional art and wearing the authentic crafts by local artisans of the distinct and thriving Kalyak Blaan Care Group–were put in the spotlight.

 

In Brazil, a webinar was held to focus on historical events leading up to the declaration of independence, with a lecture by Dr. Arnel E. Joven, the Chairperson of the History Department for the University of Asia & the Pacific.

 

Other Independence Day activities include the wellness program by the Embassy in Moscow which focused on outdoor exercise/calisthenics, the blood donation initiative by the Filipino community participated in by the Philippine Embassy in line with the 72nd anniversary of Philippines-Thailand Treaty of Friendship, a vaccination drive by the Philippine Consulate in Barcelona, and the initiative of Pinoy Road Bikers Sweden, who rode around Stockholm, donning Philippine Flag-inspired uniforms and passing by the Embassy for a quick photo opportunity.

 

Source: Republic of Philippines Department Of Foreign Affairs