“Duterte’s economic policies is creating a ‘debt bomb’ that will explode in the near future.“
Tags: foreign debt
The national debt is equal to 48 percent of the 6.8-percent GDP in the first quarter of this year.
By MARYA SALAMAT
The Philippines is still a debtor nation, and as Ibon Foundation said, this ‘lending’ to the IMF used to be a sensibly un-hyped part of “management of any country’s international reserves.”
By BULATLAT Manila — The new administration is challenged to put forward pro-people initiatives to address the fiscal crisis, but front-running presidential candidate Sen. Benigno ‘Noynoy’ Aquino has yet to take a strong progressive position on the country’s fiscal problems, said research group IBON. The International Monetary Fund (IMF), finance officials, creditors and private sector…
By ARNOLD PADILLA
Whoever becomes the next president will have to run a government that is almost P5 trillion deep in debt and with a budget deficit of P300 billion or more. Thus, whatever promises about providing for the basic needs of the people especially the poor are empty rhetoric unless candidates disclose how they intend to address the worsening fiscal situation.
Even as the Philippine government and the World Bank (WB), entered into a new agreement to review operations and mechanisms in implementing development programs as an attempt to enhance the current set of “readiness filters” in the programming of development programs and projects, IBON databank said . donor governments have failed not only to improve…
Aside from the controversial US$330 million ZTE broadband deal, other Chinese loans to the Philippines are similarly marred by corruption and onerous loan agreements. BY IBON FOUNDATION Posted by Bulatlat Vol. VII, No. 34, September 30-October 6, 2007 Aside from the controversial US$330 million ZTE broadband deal, other Chinese loans to the Philippines are similarly…