Shrinking peso, sign of the times

By November 2, 2025Out of the fire

By Gonzalo Duque

 

THE Independent Commission for Infrastructure (ICI), through Justice Andres Reyes, has released an initial recommendation to charge Senators Joel Villanueva and Jinggoy Estrada, as well as former Congressman Zaldy Co and others, for plunder, violation of the anti-graft law, and bribery.

It is believed that the recommendation is still incomplete and that more names will be included in the coming days. The people, after all, are crying out for justice to be served.

At present, the value of the peso continues to shrink—from ₱56 to ₱59.40 to a dollar—signaling declining investor confidence. No amount of justification seems able to save the day for the BBM administration.

In the days leading up to the commemoration of Bonifacio Day on November 30, several groups consisting of laborers, businessmen, retired military personnel, and others are planning to stage protest actions. These are expected to culminate in a nationwide rally.

Unlike the previous protest last September 21, this time the people appear united with one single objective—to make President Marcos and his allies resign.

Methinks, the only apparent saving grace for the Marcos administration now is the support of Uncle Sam. But even that may not be permanent, as the United States might opt for a military junta in the meantime, as hinted by Defense Secretary Gibo Teodoro.

Isn’t Martial Law far-fetched?

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I missed the First 100 Days address of Mayor Belen Fernandez during a special session of the Sangguniang Panlungsod at CSI Stadia on October 29.

I promise to attend the next one if it will be held in the afternoon when my body clock has adjusted.

I was told that the mayor’s address was well-applauded, especially when she discussed the ghost, substandard, and abandoned projects of the past Lim administration.

As we all know, I have been writing about the activities of the Dagupan City government and engaging with the issues affecting our city. Our Lyceum-Northwestern University is among the biggest taxpayers here, so we need to be involved on substantive issues confronting the city and its people.

We need honest and trustworthy leaders running our city. Recall that we were once accused of trumpeting the accomplishments of Mayor Belen and the City Council under the leadership of Vice Mayor Bryan Kua.

The most pressing issue confronting Mayor Belen and her administration remains the perennial flooding in Dagupan.

She publicly admitted this in her speech, saying she has been “burning the midnight oil” to find a workable solution to the problem with the help of the Department of Public Works and Highways, Congresswoman Gina de Venecia of the Fourth District, and Congresswoman Rachel Arenas of the Third District.

We hope this problem will eventually be addressed. I am confident that Mayor Belen can do it, as she has already solved the city’s garbage problem and turned the former dumpsite into a fun site.

No other mayor has ever solved the garbage problem in Dagupan—Belen did it.

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My friend, Vice Mayor Bryan Kua, has always been described by detractors from the opposing political camp as incompetent. But looking at the accomplishments of the last Sangguniang Panlungsod, I think he was blessed by God to lead the minority at that time.

He did well because he outsmarted the then-majority led by Celia Lim and Redford Erfe-Mejia.

That fateful day on September 26, 2023, Bryan angered the majority councilors when he allowed the passage of the annual budget with the votes of his five minority councilors led by Michael Fernandez.

The negligence occurred when three councilors went on vacation abroad while the remaining four registered their presence only via Zoom.

A week later, the three returning councilors wanted to vote for the approval of the minutes of the previous session despite their absence. Vice Mayor Bryan rejected their demand. When they asked him to recall his ruling, Bryan stood firm.

Councilor Irene Lim lost her temper, scolded Bryan, and uttered unsavory words against him. Celia was even caught on camera covering her daughter’s mouth, realizing that the entire session was being livestreamed.

Councilor Redford Erfe-Mejia accused Bryan of bringing a goon with a concealed gun. The supposed “goon” turned out to be a Sanggunian employee. Even after emptying the employee’s bag upside down, no gun was found.

As a result of the incident, three majority councilors were administratively suspended for 60 days by Malacañang.

Now, who says Bryan is incompetent?

Vice Mayor Bryan reported that the present Sangguniang Panlungsod passed 32 ordinances and 105 resolutions within 100 days. In addition, the 2026 annual budget was approved in less than one week after being submitted by the Office of the City Mayor.

Again, who says Bryan is incompetent?