In a recent article published in INQUIRER.net, it has been been estimated that there are 11 million Filipinos working abroad. That is roughly about 12% of the nation’s population of around 92 million. This figure increases by more than a million each year according to a related article published in Wikipedia. The remmitances of this huge number of Filipinos working abroad translate to 13.5% of the Philippines’ GDP. This is the reason why this group of people is now being referred to as “Bagong Bayani.”

The remittances of these Overseas Filipino Workers (OFWs) have also made the Philippine Peso the best-performing currency in Asia. From last year’s 56 pesos, a dollar now buys less than 42 pesos. It is expected that the Philippines Peso will reach the 38-level by 2008. This prediction was actually made by no less than the chief investment officer of the company I work for.

The above figures may seem very positive but if we’ll look at it closely we will realize that the very people who have made these good things possible are at the losing end. Consider a domestic helper who earns US$450 monthly. Assuming she remits 80% of her total monthly income, that would give her family in the Philippines around Php20,000 at last year’s rate. Using the current exchange rate, it would only give them roughly Php15,000. I just can’t imagine the effect of the appreciation of the peso to these disadvantaged people when it hits the 38-level next year.

If this trend will continue in the coming years, I believe the number of Filipinos leaving the country will start to decrease. I don’t know when but it will surely come. I just hope that when that time comes, the Philippine government is ready and equipped to create new jobs for our Kababayans.

This post was originally published in my old blog.

Some months back, I would always go to our building’s rooftop every night and make a wish on every star I could see. I have made a lot of wishing actually. Countless times. I can’t recall all of them but they usually boiled down to one single wish.

I don’t know if some people can relate to it. I would be glad to know that I’m not alone.

Those wishes are probably the reason why I still manage to get by each day. Maybe they bring a spirit of hope. I don’t know.

What if I wish that one day my wishing stops? Perhaps it’s not a good idea. I’m just adding a new item to my already long list.

More than a year ago, I purchased an Acer Aspire notebook under an installment plan and got a 1GB flashdrive, a webcam and had its RAM upgraded from 512MB to 1GB  all for free.  And guess what, tomorrow would be my last payment. Congratulations to me and thanks to Dhey for allowing me to use her BPI credit card that time.

Just last week, I got myself a new digicam. It’s a SONY DSC S700. I think it will be put into use when the summer vacation begins. Hope to post some good photos soon.

“When a window closes, an umbrella opens…”

For those who didn’t get what I mean, just examine my old and new blog banners.  Hehehe. I’ve decided to get myself a new blog with a totally new look. I think the new theme is a bit girly but I don’t care. It’s very relaxing to my eyes.

To my blogmates, please update my link from your blogsites to point to http://bluerendition.com/blog/ instead of http://jun.i.ph. Thanks!