December 22, 2020
Php92,190 DEBT PER FILIPINO. Government’s outstanding has reached a whopping Php10 trillion so far under the Duterte administration as of October. With a 108.8 million population and 24.7 million families, each Filipino in effect owes Php92,190 and each Filipino family owes Php405,636. Half of families earn Php22,000 or less monthly – which means that the […]
October 4, 2020
BY SONNY AFRICA
The debt crisis is already upon us – just not the kind that the economic managers and creditors are worried about where debt payments to lenders are interrupted.
July 11, 2020
June 30, 2020
The Duterte administration’s foreign borrowing has continued to rise during the pandemic. How much is really to respond to COVID-19, and how much for debt-driven growth and the illusion of development?
June 13, 2020
The finance department underscores the need for government to borrow from foreign sources to fund its economic recovery plan. Multilateral and country creditors have unsurprisingly exploited the situation and recycled funds to lend. But do we really need to borrow for COVID-19 response? How are we going to pay for all of these debts?
March 3, 2020
January 15, 2019
January 8, 2019
July 20, 2018
Nearing the third State of the Nation address, research group IBON said that debt-driven growth under the Duterte administration is not resulting in substantial improvements in the Philippine economy. According to the group, while ballooning debt accelerated government spending and pushed the 6.8% economic growth during the past year, the agriculture and industry sectors, which […]