Emergency relief and COVID-19 response more important than debt payments

Emergency relief for millions of Filipino families during the unprecedented COVID-19 crisis is more important than mindless debt servicing, research group IBON said. The government should get its priorities straight, said the group, and seriously consider at least a moratorium on the government’s debt payments. This will help provide much-delayed relief and financial assistance to the most vulnerable Filipinos affected by the coronavirus lockdown.

Finance Secretary Carlos Dominguez recently rejected the proposal of economic affairs committee chair Senator Imee Marcos to seek a moratorium on debt payments to enable additional funding for the country’s COVID-19 response measures. Dominguez said the proposition has not been and will never be considered despite the pandemic. Honoring its financial obligations, he said, is the strongest pillar of the Philippines’ standing in the global community and the reason behind investor confidence in the economy.

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Emergency relief and COVID-19 response more important than debt payments

Emergency relief and COVID-19 response more important than debt payments

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