BusinessMirror April 25, 2020

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IN this July 20, 2017, file photo, President Duterte, in a camouflage uniform with a pistol tucked in his waist, arrives in Camp Ranao in Marawi City to cheer troops who have been trying to quell an uprising by Islamic State group-linked militants. ACE MORANDANTE/PRESIDENTIAL PHOTOGRAPHERS DIVISION, MALACAÑANG PALACE VIA AP

WAR ON 2 FRONTS

I.S. UNITES MINDANAO TERROR GROUPS IN SULU AMID CORONAVIRUS 2019 PANDEMIC

T

By Rene Acosta

HE unenviable role of soldiers as frontliners in the fight to contain the spread of the novel coronavirus 2019 (Covid-19) may have been deceitfully used by the Islamic State (IS) to unify warring factions of the Abu Sayyaf Group (ASG) in Sulu and align these previously disparate bands with the international terrorist group.

The recent firefight in the province, which pitted Army troops against fighters under two of the most senior and notorious terrorist leaders in Sulu, seems to support the assertion that IS may have completed its goal to recruit the entire ASG under its wings. Last week’s battle, where 11 soldiers were killed and 14 others wounded, was waged on the other side by around 40 combined fighters under Radullan Sahiron, the “emir” of the ASG, and Hatib Hadjan Sawadjaan, leader of the IS in Mindanao. For Sahiron and Sawadjaan to collaborate and work together, along

with their men, is seen as a “worrisome” development in the government’s effort to counter the IS’s recruitment of local members and stop its terrorist activities in the country.

Continuing recruitment

THE alignment, or recruitment, of Sahiron and his men into the IS jibed with a report of the United States in December last year about the resurgence of the IS terror activities and its recruitment in Mindanao. The report, issued by the Lead Inspector General for the Operation Pacific Eagle-Philippines (OPE-P), the US counterterrorism program

in the country, noted IS’s stepped up and sustained recruitment effort, including from the ranks of displaced Marawi City residents. The IS led by its leader, the late Isnilon Hapilon, a former commander of the ASG in Basilan and the head of the IS-East Asia, occupied Marawi City in 2017, resulting in a devastating five-month battle that left most parts of the once-bustling Islamic city in rubbles. The US report also raised the possibility that the IS and its aligned groups could stage a “high-profile operation” similar to the Marawi siege if the recruitment is not de-

railed decisively, and soon. Armed Forces Western Mindanao Command (Westmincom) commander Lt. Gen. Cirilito Sobejana has ordered a fresh offensive against the combined Sahiron-Sawadjaan group as part of the sustained operations against the ASG in Sulu in the aftermath of the latest clash. The gunbattle, where three of the slain soldiers were also beheaded, lent credence to the belief that Sawadjaan may have been successful in recruiting Sahiron and his men into the IS fold while the military is busy helping in the fight against the pandemic. Continued on A2

When $8 trillion in global fiscal stimulus still isn’t enough By Michelle Jamrisko & Gregor Stuart Hunter

A

Bloomberg News

s governments dedicate more than $8 trillion to fight the coronavirus pandemic, a further widening in the gap between rich and poor countries threatens to exacerbate the global economy’s pain.

Wealthy nations have delved deep to cushion the blow. For instance, Germany and Italy have each allocated more than 30 percent of gross domestic product (GDP) to direct spending, bank guarantees, and loan and equity injections, for a combined $1.84 trillion in aid, figures from the International Monetary Fund (IMF) show. Yet, the countries IMF analysts say they’re most concerned about have only been able to trickle out support: Many Afri-

can and Latin American economies have failed to reach even a few billion dollars in fiscal aid, according to IMF data and reporting from more than 60 countries collated by Bloomberg News. “Governments worldwide are unleashing fiscal support measures, but not all fiscal packages are the same,” said Chua Hak Bin, a senior economist at Maybank Kim Eng Research Pte. in Singapore. While “fiscal bazookas are the norm in the more advanced economies,” emerging-market gov-

PESO EXCHANGE RATES n US 50.8350

ernments “don’t have that kind of ammunition and fiscal space. Their fiscal packages are more water pistols than bazookas.” IMF Chief Economist Gita Gopinath has repeatedly voiced concern that developing nations have less policy space and less sophisticated infrastructure to manage the virus outbreaks taking hold in their countries. Much of the global fiscal tally of more than $8 trillion consists of bank guarantees in developed nations—France and Spain have allocated more than $300 billion and $100 billion, respectively, for this kind of support, for example. Total virus-relief spending in the US stands in excess of $2.3 trillion. ​South Africa, the continent’s only member of the Group of 20, has managed to boost its support to about $26 billion, yet many of its neighbors are far more strapped. Tracking fiscal support across the world isn’t a straightforward Continued on A2

n JAPAN 0.4719 n UK 62.7050 n HK 6.5594 n CHINA 7.1767 n SINGAPORE 35.6212 n AUSTRALIA 32.1277 n EU 55.0238 n SAUDI ARABIA 13.5110

Source: BSP (April 23, 2020)


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