IFC cautions on foreclosure - 2004-01-11
AN official of the International Finance Corp. (IFC), the private-sector financing arm of the World Bank, warned the government against resorting to foreclosure of housing projects in its efforts to tidy up the portfolio of cash-strapped National Housing Mortgage and Finance Corp.

However, if foreclosure is unavoidable, the government “should make sure the proper social protection is provided,” he said.
Read the full story at Manila Times

Savings take a beating - 2004-01-11
What is it, exactly, that has made household saving from a source of reassurance to a cause for apprehension? Millions of us still save. But the savings ratio tells us we are saving much less as a proportion of our incomes than we once did.

It is not just that for a new generation of savers the virtue of regular saving struggles against pressing requirements to meet mortgage repayments and to pay down student debt.
Read the full story at Scotland on Sunday