debt
PH among worst performers in Southeast Asia
June 13, 2022
The government hypes the Duterte legacy but comparing growth, jobs, inflation, trade and debt figures with other Southeast Asian countries shows the Philippine economy as among the poorest performers. This is due not only to its poor COVID response, harsh lockdowns and refusal of economic stimulus but to pre-pandemic mispriorities.
New taxes to pay for Duterte indulgences, not for COVID response—IBON
May 26, 2022
The DOF’s proposed new taxes for the incoming administration are for paying off the Duterte government’s relentless borrowing for its infrastructure and debt servicing fetish, not for much-needed COVID-19 response.
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.
Duterte’s Borrowing Binge (as of March 2022)
May 6, 2022
The Duterte administration leaves behind the biggest debt burden on the FIlipino people since the Marcos dictatorship.
Gov’t, not pandemic, caused record deficits and debt – IBON
March 5, 2022
Had the Php5.3 trillion gross borrowings in 2020 and 2021 been spent on ayuda and producer subsidies, and less on infrastructure and debt servicing, economic rebound would have been bigger, revenues would have recovered faster, and there would have been less need for borrowing.
Record debt not due to COVID-19 response
March 5, 2022
The Duterte administration did not change its priorities despite urgent pandemic needs and, if anything, only used COVID-19 response to cover up massive borrowings for continued debt servicing and infrastructure.
Duterte’s borrowing binge
March 2, 2022
Government debt doubling in six years under the Duterte administration is the biggest increase since the Marcos dictatorship.
Yearstarter: Seeking better normal in 2022
January 14, 2022
The administration that is exiting and the new one entering can take a more rational and humane approach to recovering and reforming the economy.
