The Asian Banker Thursday, 12 December 2024

Philippines braces for lockdown in capital amid surge in COVID-19 cases

Philippine President Rodrigo Duterte has announced a lockdown in its capital region Metro Manila starting Sunday, 15 March, in a bid to contain the novel coronavirus.

The lockdown, which will last 30 days, closes all schools, prohibits mass gatherings, and bans all travel to and from the National Capital Region. The travel of workers from nearby provinces who work in the capital region will be allowed, clarified interior secretary Eduardo Año. The Department of Trade and Industry also gave assurance that the movement of goods will not be affected.

Economist Nicholas Mapa from ING Bank foresees that the lockdown will curb economic growth to below 6% for the first quarter of the year. Earlier today, the Philippine Stock Exchange Index fell by over 11% before recouping part of the decline. The Philippine peso weakened for a third straight day as well.

COVID-19 has been spreading at a rapid pace in the country throughout the week, from 10 on Sunday, 8 March, to a total of 52 as of yesterday, 12 March. Five patients have died from the disease as well, three of which were reported over the past 24 hours. Concern is mounting over the possible spread of the virus in highly dense lower income areas.

Duterte himself has undergone testing for the virus, although he has not experienced any symptoms. His test results have not been released as of press time.

The city of Manila and 15 other cities comprise Metro Manila, which is home to about 12 million people.

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