Financial Sanction, ever heard about it my fellow pinoy?
By maribel1218
@maribel1218 (3085)
Philippines
April 3, 2007 4:48pm CST
I just recently received an email from a friend and it was an open email from kakabayan abroad that in able to make the government feel there griefs and protests on the system of our government they are suggesting every OFW (Overseas Filipino Workers) NOT TO REMIT MONEY in the philippines in a certain period of month.
They termed it as FINANCIAL SANCTION in which somewhat boycotting the dollar remittance so the arroyo government will be shaken.
Are you in favor of this move by our OFW kababayan? the said move will definetely have great effect on our country and the dollar exchange as well.
I really want to hear what my intellectual kababayan will feel about this.
1 person likes this
11 responses
@happychoo (75)
• Philippines
4 Apr 07
The most who will be affected by this financial sanction are the love ones of the OFWs. I don't think it will not affect much if it will only one day a month but it will be effective if the OFWs will not remit for one whole month. But of course, they must prepare their families first.
@maribel1218 (3085)
• Philippines
4 Apr 07
Ate everlasting was right, OFW can send thru various padala center and will not depend on remittance alone thru banks or by manning agencies.
Thanks happychoo and ate everlasting!
@jarves (814)
• Philippines
4 Apr 07
Well, kababayan I am very much not in favor with that. The peso now has gotten stronger because of our OFWs continued pouring in remittances. It's really a great impact on how they contributed to our economy. Now if they will allow this "Financial Sanction", it would only weaken our peso that disturb our economy. It will not only affect people in our country but also those who are abroad. So they better think twice before doing it.
2 people like this
@lossforredwords (3620)
• Philippines
4 Apr 07
I haven't heard this plan before until now but I think this won't give any effect on the Arroyo administration we know how snicky these people are. Plus I don't think that those relatives of OFW can handle that kind of plan cause it will only mean for a delayed of support. I don't think that this is necessary and if others can do this I don't think it will be a great number.
1 person likes this
@lossforredwords (3620)
• Philippines
5 Apr 07
oh so that is the way it works well thanks for the correction.
anyway, maribel can you pm to me the email you received so I can be more informed about this kind of stuff. I have relatives abroad and I would like to study this one and inform them. thanks in advance.
1 person likes this
@maribel1218 (3085)
• Philippines
4 Apr 07
I just knew it when a friend of mine forwarded an email that containing the said plan. I really think it will have great effect on our economy specially in terms of dollar reserve and exchange as well.
I can't really say how many will be partipating in this sanction but I can't under estimate the capability of our fellow ofw kababayan with regards to this move.
Thanks ate everlasting for additional info!
@mauier113 (688)
• Philippines
4 Apr 07
I haven't heard of this financial,sanction. Definitely, thre will be lots of families of the OFW here that will be affected, so they must be prepared. I would be in favor of this if this will make a posotive outcome for the OFWs but what if the goverrment just ignore this even if this would make a great impact on the economy. We know the OFWs are the prime contributor in our economic development, but still so little had been done for the improvement of the OFWs.
@maribel1218 (3085)
• Philippines
4 Apr 07
Certainly correct mauier, OFWs are the one who really contributed a lot in terms of stabilizing our economy with dollar reserve thru remittances but they are the one receiving less benefits.
Our OFW kababayan have a deeper cause to iniate this move and whatever the result of this sanction if this will take effect in the near future, I really think many will benefit from it and our government will really be alarmed by this silent attack.
Thanks mauier for your sensible view!
@tigerdragon (4297)
• Philippines
14 May 07
lol!but i just have to laugh because that would not happen.it will never happen because most ofw's have families here .the reason for most filipinos works abroad is to provide financial help for their families living here in the philippines.these are just a small sect of the ofw communities who just wants to be known .they have not even gathered some sort of consensus from other filipinos working abroad.maybe these are filipinos living already outside of the country and just wants to join in the fun.do not get me wrong , i don't like what's happenning here and certainly not in favor of the current leader and that is another story.
1 person likes this
@tigerdragon (4297)
• Philippines
16 May 07
thanks,maribel. i thought milasol gave a very "economical" answer.she knows something that we do not know since she worked for adb but she doesn't realize that in reality ,eventhough our gnp is in its growth stage , the filipinos are getting poorer and very helpless.it is getting harder to maintain a practical lifestyle nowadays.whatever statistcs say ,we can never shut our eyes to what is really happenning on the streets.
@maribel1218 (3085)
• Philippines
16 May 07
thanks my dear tiger dragon for dropping by!!! I like your answer!!!
@gbolly54 (661)
• Nigeria
4 Apr 07
Permit me as your friend to dabble in what appears not to concern me. Such type of financial sanction works, but only against the unintended masses. The target of the sanction will not be affected by it, at least directly or immediately. Indeed, it may make the government take worse steps that may make the country worse off in the meantime. Instead of ganging up through financial sanction, can't the gang-up be better applied at the polls to change the government, if it is generally considered so bad? I'm awfully sorry for the unsolicited response.
1 person likes this
@maribel1218 (3085)
• Philippines
4 Apr 07
That was okay my friend. I really love to read different views about this matter and yours is very well said.
Thanks again.
@bosing143c (564)
• Philippines
4 Apr 07
i heard that plan maybe three years ago and it was a good move. i dont kow why it did not materialized then. It is a good economic sanction and well timed if ever they push through with it at this time. its a wake up call for our stagnating system. and yes i am difinitely in favor with it my friend....
1 person likes this
@maribel1218 (3085)
• Philippines
4 Apr 07
I just recieved the email yesterday and I'll send you thru PM the whole email bosing. They are planning to start it on last march.
I am a bit agree with this even my husband is working onboard he can send money who ever will go home and hold his salary onboard.
I really think this iniative will really shake our government because they are so dependent to dollar remittance and they don't even make a move on how to stregthen our country's economy.
@trinidadvelasco (11401)
• Philippines
4 Apr 07
There will be a handful who can effect this but, surely those whose families rely fully upon them for support, cannot be one with them in this endeavor. Most of our OFWs though fall under this category and, not sending them those remittances every month, will be tantamount to allowing them to be financially miserable for the affected months. And that is impossible. They are working abroad in order for their family to be comfortable in terms of financial capability. I don't understand it fully though, why they want the Arroyo administration to suffer. This is the administration which is truly working towards the economic recovery of this country.
1 person likes this
@ryanphil01 (4182)
• Philippines
4 Apr 07
i have realtives working abroad and they send remittances to us monthyl. I am not sure how they will take this sanction, but for us here in the Philippines, for sure, we will be affected if it is pushed through, since we depend so much on the money they sent us, particularly education of their children. Perhaps a month's sacrifice is enough to give the government the needed "wake up call".
but you see, the stronger the peso against the dollar indicates good economy.
1 person likes this
@maribel1218 (3085)
• Philippines
4 Apr 07
My husband is a seafarer and I do recieve a monthly allotment and will eventually affected by this sanction.
I think ate everlasting is right our relative can still send thru padala centers without use of the banks and can win this move they iniate.
You are certainly correct ryanphil stronger peso indicates good economy but the dollar reserve was not generated by our economy it was thru remittance and that was not a good way of treating or citing we have a good economy by depending on remittances alone.
Thanks for your credible view ryan!
@BrianKomeini (276)
• Philippines
16 May 07
That would be disastrous, and i think it wouldn't help. The next thing we know, the more numerous poor folk that we have here in the Philippines are again whining about the high price of basic commodities. We do want the present administration to straighten up, but we do know that the first ones to suffer when someone does the boycott are the poor folks that we don't want to suffer.
It's like having a small cancer in your thumb and having your whole body bombarded with the full force of chemotheraphy.
