https://kodao.org/wp-content/uploads/2020/04/1587197993698_Haysss.png 6315 10607 Kodao Productions https://kodao.org/wp-content/uploads/2014/11/kodao.png Kodao Productions2020-04-18 16:26:322020-04-18 16:26:33'Finance department is still oblivious'
‘Finance department is still oblivious’
In response to Finance Secretary Carlos Dominguez’s statement of rejecting the debt moratorium:
“The Philippines is in the worst public health crisis in its history. Yet the finance department is still oblivious and prioritizes “[honoring] financial obligations”, “investor confidence”, and a warped notion of being a “credible and responsible borrower”. The 2020 budget allots Php1.03 trillion for servicing debt — Php451 billion for interest payments and Php582.1 billion for principal amortization. Php 285.8 billion of this goes to servicing foreign debt.”
Executive Director, IBON Foundation