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Philippines News Agency

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The Philippines News Agency

The Philippines News Agency (PNA) is a web-based newswire service of the Philippine government. The PNA Headquarters are housed at the 2nd floor of the PIA building along Visayas Avenue, Quezon City. PNA's website address is http://www.pna.gov.ph

It has been 35 years since PNA was launched in an era when newswire operations relied mainly on teletype machines and typewriters. PNA has steadily paced the highly competitive and changing arena of Philippine journalism; it is now slowly but surely coming to par with the challenges posed by the globalization of media communications. This has deeply shaped modern journalism and the news media organizations that have been instrumental in creating the very conditions that made globalization a reality.

PNA has evolved today as an Internet-based news service agency that caters to the global demand for news and information to its subscribers, readers and a host of other clients. PNA's mission is spelled out clearly: to provide the government, the Presidency, the public, as well as its media and non-media clients, both local and foreign based, sober, factual, impartial and objective news and information. PNA provides news 24/7, including photos of major events, feature stories, sports news and events, local and global opinions, general information, as well as global news and feature stories. PNA employs about a hundred journalists and stringers across the country, with several foreign-based correspondents.

PNA beat reporters and stringers are deployed practically in every government office and agency, including the main offices and camps of police and security forces, to provide news 24/7 for local, regional and global subscribers and readers. PNA likewise maintains active news exchanges with news agencies of ASEAN member-countries and the Organization of Asia-Pacific News Agencies (OANA).

Philippines News Agency
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Latest Press Release
Queen Maxima poses with Philippine gov't officials at the PICC . (PNA)

Queen Maxima poses with Philippine gov't officials at the PICC . (PNA)

(NewsFeature) Authorities highlight need for more financially-educated people to have stronger economies

MANILA, (PNA) -- Ensuring that people are included in the formal financial system not only benefits the consumers but the economy as well.

Thus, authorities are one in saying that it is important to make people financially-educated.

During Wednesday's launch of the National Strategy for Financial Inclusion at the Philippine International Conventiion Center (PICC), Queen Maxima of The Netherlands said one needs to be economically and financially included "to be able to have dignity" and "to be able to have an income."

She said a country would also have equality if its people are economically-included.

"It is a means to an end," she stressed citing that "financial inclusion is a means to an end that allows you to be economically included and actually stay there."

"It provides infrastructure that brings everyone in the system. That is what’s important," she said noting that "this issue is as true in the Philippines as it is in the Netherlands."

Queen Maxima, who was designated by the UN Secretary-General as his Special Advocate for Inclusive Finance for Development (UNSGSA) since 2009, is in the Philippines from June 29-July 1 to further push her advocay.

The Philippines' National Strategy for Financial Inclusion will be implemented through the coordination of 13 government agencies namely the Bangko Sentral ng Pilipinas (BSP), the Department of Finance (DOF), Department of Budget and Management (DBM), Department of Trade and Industry (DTI), and Securities and Exchange Commission (SEC).

Other participants are the Department of Education (DepEd), Department of Social Welfare and Development (DSWD), Insurance Commission (IC), National Economic and Development Authority (NEDA), Philippine Statistics Authority (PSA), Commission on Filipinos Overseas, Philippine Deposit Insurance Corporation (PDIC)and Cooperative Development Authority (CDA).

BSP Governor Amando Tetangco Jr., during the same event, said the national strategy is targeted to design and implement financial inclusion policies and programs.

Central bank data showed that almost 70 percent of Filipino adults are without basic financial services.

Worldwide, about 40 percent of adult population are without access to the formal financial system.

This is the reason the central bank continues to implement programs aimed to educate more Filipinos and make them financially-equipped.

Tetangco said the national strategy will help the government in its bid to help more people become more productive citizens and make them more effective development partners.

"This will lead to broader economic growth," he stressed.

"Financial inclusion will result to greater stability in the financial market," he said adding that "the more diversified you are, the less susceptible you are to crisis."

Relatively, Socioeconomic Planning Secretary and National Economic Development Authority (NEDA) Director General Arsenio Balisacan, during the same event said financial inclusion is needed to help people get back to their feet after a disaster struck.

"The whole idea is to reduce the vulnerability of Filipinos to disasters," he added. (PNA)