We demand a full and unconditional retraction from the person who made that statement, and a public apology to the First Family.

If that is not forthcoming, the proper charges shall be filed and full justice and retribution shall be sought for the damage done.

Global recognition of and confidence in the Philippines rides on rising political stability, well-directed governance and strength of our economic fundamentals.

All these work in synergy to pull investments, create jobs and increase the social payback to the people.

The National Disaster Coordinating Council (NDCC) is working round- the-clock to address this ecological and economic time bomb.

Determined to prevent further damage to the environment, Malacanang has already asked the help of foreign governments to help address the country’s worst oil spill off the island province of Guimaras in the Visayas.

In a statement, Press Secretary and Presidential Spokesperson Ignacio R. Bunye said today the government is working overtime to arrest what could be a big ecological disaster.

"The National Disaster Coordinating Council (NDCC) is working round- the-clock to address this ecological and economic time bomb," he said.

The Motor Tanker Solar I, carrying 500,000 gallons of oil, sank off Guimaras Friday last week because of rough seas, spilling 50,000 gallons of oil that affected more than 200 kilometers of the province’s shoreline, including the livelihood of thousands of sustenance fishermen.

The government has already sounded off the alarm to foreign governments, including Indonesia, the United States and Japan, to help refloat the sunken tanker.

This is because a further environmental catastrophe looms as a big volume of oil estimated at 450,000 gallons is still trapped under water.

Bunye said teams from the national and local governments are now closely coordinating and working to contain the spill, pinpoint accountabilities, help in the cleanup and provide assistance to the affected communities.

"The team is working at all levels to contain the spill, pinpoint accountabilities, repair the damage, oversee assistance to the affected communities, set up prevention measures and look into long-term policy reforms," he said.

Malacaņang said today the London-based Fitch Ratings’ upgrade on the "country ceiling" for the Philippines to "BB+" from "BB" is clear proof that the country has regained the confidence and recognition of the international financial community.

Press Secretary and concurrent Presidential Spokesperson Ignacio R. Bunye hailed the Fitch upgrade in the country's "country ceiling," stressing it was due to sound economic fundamentals brought about by good governance and rising political stability.

"Global recognition of and confidence in the Philippines rides on rising political stability, well directed governance and strength of economic fundamentals," Bunye said in a statement.

Increased international financial community confidence and recognition of government efforts to improve the country's economic fundamentals through good governance translate to more foreign investments that will create more new jobs for the people and uplift their lives.

"All these work in synergy to pull investments, create jobs and increase the social payback to the people," Bunye said.

He added that the economic takeoff "bolsters our fighting chance in a world of keen competition" as he urged the people to "seize the moment and rally behind a brighter future."

Fitch Ratings raised the "country ceiling" for the Philippines and 39 other countries, including South Korea, Taiwan, Malaysia, Indonesia and Hong Kong, as part of its regular and ongoing revision of its criteria and methodologies.