1.

Do a research on the current economic situation during this time of

pandemic. What does the news and government data say? You might need
to cite, like unemployment rate, GDP, Inflation rate, and any other useful
data that would provide a clear picture of the current economic situation.
Don't forget to do in-text citation of your source and include them in the list
of references at the end of the paper.

ANSWER: When the pandemic started a lot of rumors and prediction in Philippines
on what are the impacts in our health, style of living, habits every day, and our
economic rate. There is a forecasts that GDP in 2019 has a total of 5.9 could drop in
this year to 4.3 and this is may be the best result, and the worst is -0.6. I think it’s
happening right now

According to a state-run think tank, THE Philippine economy could lose between
P276.3 billion and P2.5 trillion depending on how the coronavirus pandemic progresses
over the next few months.

A discussion paper titled 'Projected Disease Transmission, Health System

Requirements, and Macroeconomic Impacts of Coronavirus Disease 2019 (COVID-19)
in the Philippines' by the Philippine Institute for Development Studies (PIDS) estimated
the trajectory and severity of the outbreak in the Philippines under various outcomes.

As we can see there is a deflation happened in our economic rate because of this
pandemic. A lot of business, jobs, trades, and development are forced to close. But
there is also a prediction that in 2021 when their will be a vaccine in Covid19 our
economy will raise up step by step. This may be a good news for us, but it’s up to us on
we’re going to handle this situation, it’s in our hand and governments hand on what can
happen next.
 2. With the current economic situation that you presented above, what
specific monetary policy is the Bangko Sentral ng Pilipinas implementing
(you can search from the net for this information just cite your source). Do
you find the monetary policy being implemented appropriate for this
situation? Explain your answer.

ANSWER: In this time of Pandemic a lot of countries are suffering into economic
deflation, and as we all know that economy is one of the important part of one country,
but let me focus here in the Philippines, a total of P276.3 billion and P2.5 trillion can lost
in our economy so if we look closer this has a massive impact in our country especially
the trading of goods and services.

The specific monetary policy that the Bangko Sentral ng Piliinas can use is the
Tight monetary policy, it is written in the article that I have read that Tight monetary
policy is a type of policy that restrict money supply and reduces the amount of money
lend in the bank. In view of the fact that when there is an economic crisis a lot of
money that is saved in the bank can be used to start again and raise up our Economy.

3. If you will be given the task of choosing what monetary policy should be
implemented, what would be your choice? Explain how your choice will
contribute in confronting the current economic situation brought about by
the pandemic.

ANSWER: I’ll choose Tight monetary policy, on the back of it, it has a very credible
outcome when it comes in saving money that can be use when there is a economic
crisis, in the other hand Filipino people will learn how to budget their money so they can
buy their own goods. This may be a terrible news to those people who want to lend
money in banks but still they can find another option.

When we look closer in it, Tight monetary policy can help our country to have
more savings that can be use when it’s needed, especially now on what is happening in
our country, it will support our country’s economy.
REFERENCES:

The Economic Fallout of COVID-19 in the Philippines. (n.d.). Retrieved September 14, 2020,
from https://philippines.fnst.org/content/economic-fallout-covid-19-philippines

Cunanan, M. (n.d.). Looking at the economy amid COVID-19. Retrieved September 14, 2020,
from https://www.bworldonline.com/looking-at-the-economy-amid-covid-19

Flanders Investment & Trade. (n.d.). Retrieved September 14, 2020, from
https://www.flandersinvestmentandtrade.com/export/nieuws/coronavirus-situation-
philippines

Kenton, W. (2020, January 29). Tight Money. Retrieved September 14, 2020, from
https://www.investopedia.com/terms/t/tightmoney.asp