Sonny Africa
Sonny Africa is the executive director of IBON Foundation.
Bongbong will be tested on the economy in 2023
January 21, 2023
The binding constraint to steadier progress and development is the outdated faith in market forces. The blindness to the state’s responsibility to intervene will mean worse times in 2023. It will also reopen lockdown wounds that were hidden by last year’s rebound but haven’t really healed yet.
Will World Economic Forum folks believe Bongbong?
January 16, 2023
The administration’s trip is a self-serving junket at the people’s expense. If Marcos Jr speaks about so-called economic gains, he will be speaking untruths.
Maharlika Fund: Dubious, pretentious and self-serving
December 2, 2022
Something’s wrong. We asked for a wealth tax which would have been paid by a few and could have helped the many. Instead, we’re getting a wealth fund which is paid for by the many and will enrich a few.
Marcos Jr’s first 100 days: The truth is out
October 8, 2022
The first 100 days are arguably the most crucial moment to make a break from the past – not just from the past administration but from poverty, inequality and underdevelopment. The Marcos Jr administration failed to do anything with this moment and, if anything, confirmed that it is unable to even imagine any real fundamental change.
PH Peso: Catch Me I’m Falling
October 6, 2022
The Philippine peso has been hitting record low after record low. This will be among the main drivers of accelerating domestic inflation which will burden Filipinos with rising prices of basic needs on top of their floundering incomes and earnings.
Upper middle-income status: A smokescreen for underdevelopment
September 30, 2022
Does getting an upper middle-income designation really mean the Philippines and its people are achieving genuine development? Or is it just another label being hyped by the Marcos Jr administration to project economic success while hiding a troubled economy and the millions of Filipinos being left behind?
Discerning Bongbonomics from the Inaugural Address
July 4, 2022
Imagine if the inaugural address had mentioned – big fiscal stimulus from more ayuda and support to MSMEs to spur aggregate demand, prioritizing social spending over infrastructure and debt service in the 2023 budget, expanding fiscal space with a billionaire wealth tax, higher wages, arresting environmental destruction by corporations, financial regulation, public ownership, protecting and supporting domestic agriculture, and a comprehensive plan for national industrialization.
No Mavericks Among Economic Top Guns
June 15, 2022
The next administration’s economic agenda will be fully presented at the state of the nation address in July. There are hardly any specifics yet. Still, the tidbits already emerging can be interpreted against the incoming economic team members’ individual track record and especially in the context of the long arc of neoliberal thinking that has defined Philippine policymaking over the last half century.
PH isn’t Sri Lanka… yet
May 25, 2022
The Philippines isn’t going the way of Sri Lanka yet in defaulting on its foreign debt payments anytime soon. Which is not to say that there are no lessons to be learned from the first canary to die in the coal mine of growing global debt distress.
