By JOEY NACALABAN
and NITZ ARANCON
Correspondents
MAYOR Oscar Moreno yesterday expressed hope that the apparent de-escalation efforts on the part of the US and Iran would continue to avert a potential global economic crisis.
Moreno said this after Iran said it has concluded its “proportionate” retaliation against the US in response to the US drone attack that killed Iran’s top commander, Gen. Qasem Soleimani. US President Donald Trump said there was no American casualty in Iran’s missile attacks this week, and the US would not retaliate.
“We hope and pray that de-escalation efforts on the part of major countries will be fruitful. Also, we need cooler heads in the leaderships of the major players, such as the US, Iran, Iraq and the rest of the Arab World,” reads part of Moreno’s statement.
He added: “Global peace is priceless!”
He said an uncontrolled and unabated escalation of the US-Iran tensions would result in more complex problems not only in the Middle East but also in the entire world.
Moreno said he feared it would trigger an oil crisis as well as financial difficulties for smaller nations, especially those heavily dependent on imported oil.
He said, “Unless the tensions are eased and a bloody war is averted, the Philippines — being heavily dependent on oil imports — will have to bear the brunt of a global oil shortage that will spawn rising prices of domestic oil supply.”
Moreno said any reduction of supply would result in higher oil prices in the world market.
He said, “We will certainly get hit not only by the increased price but also by the need of having to produce more pesos. A diminution in value of our peso vis-a-vis the US dollars will mean higher cost for us.”
Such a situation, according to Moreno, would dampen investors’ appetite and would have a domino effect on the Philippines’ economic climate.
Moreno said, “We cannot afford that to happen. A financial crisis in a major international economic center will definitely exacerbate the situation.”
Meanwhile, Rep. Rufus Rodriguez of the city’s 2nd District said he was worried about Filipino workers in the Middle East.
Should tensions escalate, the situation would have “grave adverse effects” on Filipinos in the Middle East.
“If there is war, their lives are endangered. Also, many will be out of work because of the conflict. Remittances from them will decline, and their families here in the country will be deprived of the remittances,” Rodriguez said.
Rodriguez earlier called on the government to start the evacuation of Filipino workers in Iraq over fears that Iran would avenge the killing of its top general by targeting Americans and US military assets.
The Bureau of Immigration (BI) said it was ready for the possible influx of Filipino workers from the Middle East who might be evacuated if the conflict between the US and Iran escalates.
Immigration Commissioner Jaime Morente said he has ordered all BI personnel at the Ninoy Aquino International Airport and other international ports to prepare for any eventuality should the conflict escalate further.
“I have directed our port operations division to see to it that adequate manpower is available to address a possible upsurge in the number of passengers arriving from the Middle East,” he said.
Morente said if needed, they are ready to deploy additional men at the airports by enlisting the services of and temporarily reassigning to the Naia immigration officers currently stationed in other ports and offices of the bureau.
The order was given following the Department of Foreign Affairs advisory raising to Alert Level 4 for Filipinos in the whole of Iraq, as well as issuing an advisory to Filipinos in Iran, Lebanon, and Saudi Arabia to remain vigilant of potential security threats and to stay in close coordination with the Philippine Embassy.
In compliance with Morente’s directive, BI port operations division chief Grifton Medina issued a memorandum advising all BI airport personnel to prepare for possible mass repatriation of Filipinos from the Middle East.
He instructed airport heads to ensure that all terminals are fully manned to ensure the smooth processing of possible repatriates.
The government has ordered the evacuation of Filipino workers amid the escalating tensions there. (with reports from PNA)
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