Ph Debt reaches 8.6 trillion pesos!
If we are going to divide our country’s debt to each filipinos right now, we might have an approximate debt of 80 thousand pesos.
That’s a too much debt for a normal filipino!
In the midst of Covid-19 pandemic, the philippine government has been struggling to provide efficient solutions and reforms to flatten the curve as the number of infected individuals continue to rise.
General community quarantine has set-off last 1st of june all over the Philipppines despite the huge amount of active cases in the cities and provinces. The implementation of general community quarantine has something to do with country’s economy and might collapse if they didn’t do anything and this has nothing to do with the flattening of the curve.
Add to that, they also seek for loans to support the battle against Covid-19 pandemic. Here are some of the recently approved loans of the philippine government from different foreign private sectors:
- $1.5 billion financial assistance from ADB
- $100 million from World Bank
- $750-million loan from AIIB (co-financing with ADB)
- $500 million loan from World Bank
With that huge amount of budget, do you think the Philippine government can also flatten the curve of our debt to foreign sectors as they’re also trying to flatten the curve of active cases of Covid-19?