debt - updates

Rappler's latest stories on debt

ARTICLE FINDER

Recto files bill to write off farmers' debts from CARP

Jul 13, 2019 - 2:19 PM

Recto says the amount of farmers debt is 'small compared to the hundreds of billions in private sector loans it had written off over the past 40 years'

CARP DEBT. Senator Ralph Recto files a bill seeking to write off debt of farmers from agrarian reform loans. Photo by Angie de Silva/Rappler

On World Environment Day, groups intensify campaign vs Kaliwa Dam

Jun 05, 2019 - 4:27 PM

In celebration of World Environment Day, groups opposing the construction of Kaliwa Dam start their campaign to convince President Duterte to revoke the contract to build

Various groups converged to campaign against the construction of New Centennial Water Source Kaliwa dam on World Environment Day, June 5. Photo by Anna Mogato/ Rappler

China debt trap? Opposition bets say PH at 'losing end' of 'onerous' loans

Apr 27, 2019 - 7:58 PM

'Ang mahirap sa sinasabi ng pamahalaan na hindi pa ito done deal, hihintayin pa ba natin na matapos ang kontrata saka tayo magrereklano? Aanhin mo pa ang damo, kung patay na ang kabayo?' says Otso Diretso's Romulo Macalintal

STUDY CHINA DEALS. Opposition senatorial bets oppose the China deals as is. Rappler file photos by Angie de Silva and Darren Langit

[OPINION] The paradox of a gift: Foreign aid and its conditions

Apr 14, 2019 - 10:45 PM

Should we reject foreign aid as it is ultimately self-serving anyway? Not at all.

[ANALYSIS] We never defaulted on our loans? That’s historical revisionism

Apr 11, 2019 - 6:17 PM

By saying the country 'never, never defaulted on its loans,' the DOF is being naïve at best and disingenuous at worst

[ANALYSIS] How the Philippines fell for China’s infamous debt trap

Mar 27, 2019 - 2:13 PM

Duterte himself fell for China’s debt trap – hook, line, and sinker – and in the process put at risk the country’s natural resources and strategic assets

What are patrimonial assets? Lambino rejects China debt trap fears

Mar 26, 2019 - 1:15 PM

Finance Assistant Secretary Antonio Lambino implies that the Philippines would not lose the gas-rich Reed Bank, as it is not considered a patrimonial asset

Malacañang taking Mahathir's advice on Chinese loans

Mar 11, 2019 - 2:10 PM

The Duterte government's economic managers are 'evaluating all kinds of loans' from China, says Presidential Spokesperson Salvador Panelo

PARTNERS FOR PROGRESS, BROTHERS FOR PEACE. President Rodrigo Roa Duterte accompanies Malaysian Prime Minister Mahathir Mohamad as the latter signs the guest book upon his arrival at the Malacañan Palace for his two-day official visit to the Philippines on March 7, 2019. Malacañang Photo

LIVE: Senate hearing on China loans

Mar 05, 2019 - 9:07 AM

Watch the hearing live on Tuesday, March 5, at 9 am


What happens if the Philippines can't pay off loans from China?

Mar 02, 2019 - 12:52 PM

(UPDATED) Senatorial candidate Neri Colmenares raises the alarm over the looming Chinese debt trap. The finance department shrugs off fears and says the Philippines can pay off the debt.

Bricked in by poverty, Cambodia's farmers fight debt bondage

Jan 02, 2019 - 3:35 PM

Unpredictable weather linked to climate change is laying waste to Cambodian fields

BRICK FACTORY. This photograph taken on December 11, 2018 shows Cambodian women working at a brick factory on the outskirts of Phnom Penh. - Saddled with debt from failed harvests, tens of thousands of farmers are turning to brick factories, where owners pay off their bills in exchange for labour. Photo by Tang Chhin Sothy / AFP

Why Chinese President Xi Jinping's visit matters to Filipinos

Nov 20, 2018 - 11:36 AM

Ties between the Philippines and China stretch back centuries – but power and money can complicate (not necessarily destroy) even the closest of friendships

CHINESE LEADER. Chinese President Xi Jinping witnesses the signing of a memorandum of understanding following a bilateral meeting with President Rodrigo Duterte in Beijing on October 20, 2016. Malacañang photo

FALSE: Pie chart of Philippines' national debt under 3 presidents

Nov 06, 2018 - 12:00 PM

(UPDATED) Since the national debt is a 'running total' of how much the country still owes, comparisons should show the 'net addition' to the debt for certain periods, not the supposed 'shares' of debt incurred by each president

Screenshots of false claims posted on Facebook about the country's national debt under 3 presidents

2019 budget: Executive branch, lawmakers OK 6-month extension for payments

Aug 30, 2018 - 3:59 PM

Agencies and departments will now have until 6 months after the fiscal year to make their payments under the 2019 cash-based budget system, says Executive Secretary Salvador Medialdea

Chinese debt trap? Americans did it too – Dominguez

Jul 31, 2018 - 5:25 PM

'We are not naive. We know all ODA (official development assistance) projects of all countries are designed to influence,' says Finance Secretary Carlos Dominguez III

[OPINION] Lessons for Manila from Sri Lanka's 'debt-trap' experience

Jul 22, 2018 - 7:24 PM

We consider the case of Sri Lanka as an illustrative example of the process whereby Chinese debt can translate into strategic concessions

Bong Go billboards, China on PH loans, Mandela | Midday wRap

Jul 18, 2018 - 1:49 PM

Watch Rappler’s midday newscast with Margie de Leon

Philippine external debt down to $73.2B in Q1 2018

Jun 15, 2018 - 6:31 PM

BSP Governor Nestor Espenilla Jr says net repayments which amounted to $3.4 billion mitigated upward pressures

Philippine debt at P6.88 trillion in April 2018

May 30, 2018 - 8:30 PM

(UPDATED) The country's debt is higher by 7.9% than the same period last year, according to the Bureau of Treasury

'Can you lend more?' Duterte asks ADB to fund more infra projects

May 05, 2018 - 9:14 PM

'We shall continue to rely on the ADB for financial assistance, be it in the form or loans or grants,' President Rodrigo Duterte says at the 51st Annual Asian Develoment Bank Meeting

BUILD BUILD BUILD. President Rodrigo Duterte asks Asian Development Bank for more loans. Malacañang Photo

Poe wants probe vs abusive debt collection practices

Mar 04, 2018 - 10:24 AM

Senate Grace Poe says debt collectors engaging in unfair practices 'must be punished to put an end to their prevalent abusive behavior'

PROBE SOUGHT. Grace Poe grants Senate reporters an ambush interview. File Photo by Alecs Ongcal/Rappler

[OPINION | Newspoint] The great sellout

Feb 24, 2018 - 2:00 PM

If we think the ultimate danger is native, Marcos-style authoritarianism, we really have not been looking. What we stand to lose this time is not just our freedom, but our sovereignty, our identity, our very soul as a nation

Indian farmer crushed to death as tractor seized over debts

Jan 22, 2018 - 2:53 PM

Police are hunting 5 loan recovery agents who could be charged with murder in a case that highlights the debt crisis faced by the country's farmers

Venezuela 'selective default' declared, govt insists it is paying up

Nov 15, 2017 - 8:06 AM

Standard & Poor's declares Venezuela in 'selective default' after it failed to make $200 million in payments on two global bond issues by the end of a 30-day grace period on November 12

LINING UP FOR CASH. People queue to withdraw money from an ATM in Caracas on November 14, 2017. Federico Parra/AFP

Venezuela's day of reckoning?

Nov 13, 2017 - 10:12 AM

November 13 looks to be a day of reckoning for the OPEC-member nation, bringing with it a tighter squeeze on its beleaguered President Nicolas Maduro and his socialist government

NICOLAS MADURO. This file photo taken on October 17, 2017 shows Venezuelan President Nicolas Maduro as he holds a sign that reads 'popular victory 54%; we are happiness, we are the majority' after a press conference with international media correspondents at the Miraflores Presidential Palace in Caracas. File photo by Federico Parra/AFP

Default day looms for cash-strapped Venezuela

Nov 10, 2017 - 9:57 AM

President Nicolas Maduro's government must repay at least $81 million on another PDVSA bond by this weekend, at least $1.47 billion interest on various bonds by the end of the year, and then about $8 billion in 2018

VENEZUELA'S BOLIVAR. A man shows a new one hundred thousand-Bolivar-note in Caracas on November 9, 2017. Photo by Federico Parra/AFP

The hanging fate of OFWs buried in debt

Oct 20, 2017 - 10:01 PM

The burden of reporting illegal recruitment falls on workers. But with little to no legal recourse, what comes next?

Foreign direct investments in PH drop to one-year low in July

Oct 10, 2017 - 6:40 PM

(UPDATED) Despite the drop, the economic team of President Rodrigo Duterte says foreign investors remain confident to do business in the Philippines

How OFWs can avoid getting buried in debt

Oct 03, 2017 - 7:49 PM

For migrant workers, failing to pay off loans can mean jail time and loss of income

'Buwan at Baril' returns onstage at PETA Theater Center

Sep 24, 2017 - 9:50 PM

The Freedom from Debt Coalition and Sugid Productions announce a rerun of the play by Chris Millado

S&P cuts China's debt rating over 'financial risks'

Sep 21, 2017 - 5:25 PM

S&P, which downgraded China's debt from AA- to A+, is the second major credit ratings agency to slash the Asian giant's rating

This photo taken on April 25, 2017 shows a general view of the central business district in Beijing. Nicolas Asfouri/AFP

PH external debt drops by 1.8% to $72.5 billion in Q2 2017

Sep 17, 2017 - 9:20 PM

The end-June 2017 level is also down by $5.2 billion from the same time last year

FDI net inflows down 61.1% to $874M in April

Jul 10, 2017 - 6:00 PM

The net inflows total 2 4 billion for January to April this year down 32 compared to the 3 6 billion in the same period a year ago

Devanadera cleared in P6-B graft case due to Ombudsman delay

May 17, 2017 - 3:38 PM

The dismissal of the case against the Arroyo time chief government corporate counsel adds to the list of cases dismissed by the anti graft court for probe delays

CLEARED. Former government counsel Agnes Devanadera escapes arraignment on April 20, 2017 due to her urgent motion to quash. She is cleared a little more than a month later. Photo by Lian Buan/Rappler

Duterte, Sison, cyberattack | Midday wRap

May 15, 2017 - 12:27 PM

Watch the midday newscast with David Lozada

Greece, creditors look to debt relief after provisional fiscal deal

May 02, 2017 - 12:39 PM

3rd UPDATE Greece reaches a preliminary deal with its creditors that should pave the way for long awaited debt relief talks the Greek finance minister says

A woman stands by European Union and Greek flags in central Athens on April 21, 2017. Louisa Gouliamaki/AFP

Devanadera also uses 'delay' doctrine in bid to drop P6B graft case

Apr 21, 2017 - 11:30 AM

The urgent motion of former government counsel Agnes Devanadera prompts a Sandiganbayan justice to quip: Are you a Johnny come lately?

Fitch affirms PH investment grade rating at BBB-

Mar 30, 2017 - 2:10 PM

The rating comes with a positive outlook that indicates an upward trend for credit ratings over a one to two year period

IMF says Greece debt 'explosive' in long term

Jan 28, 2017 - 10:49 AM

The pessimistic report though in keeping with the fund s repeated statements on the topic makes it more unlikely the IMF stays on the sidelines of any new European loan deal for Greece

A file photo dated 18 May 2011 showing the sign of the International Monetary Fund at the entrance of the Headquarters of the IMF, also known as building HQ2, in Washington, DC, USA. File photo by Jim Lo Scalzo/EPA

Historic first: 20 gov't loans worth P7.6B up for audit

Dec 23, 2016 - 3:25 PM

A special provision in the newly signed 2017 budget law allows this congressional audit and investigation – the first of its kind in the Philippines

Fitch keeps 'stable' outlook for PH banks in 2017

Dec 13, 2016 - 6:00 PM

Only the Philippines and Vietnam – where economic prospects are brighter – have stable sector outlooks the debt watcher says

WEATHER STORM. Fitch Ratings gives the Philippine banking system a stable 2017 outlook, with domestic demand to remain strong. Image from Shutterstock

Gov't debt drops further in September 2016

Dec 04, 2016 - 10:40 PM

Increased spending and a robust economy contribute to government debt dropping to 44 2 from 44 7 despite a drop in government collections

EU, IMF 'going in circles' on Greek debt relief

Dec 04, 2016 - 3:21 PM

Eurozone finance ministers meet Monday December 5 as far apart as ever on the debt relief measures demanded by the International Monetary Fund IMF for it to back their bailout program for Greece

A man withdraws cash from an ATM machine in Athens on July 19, 2016. Kostis Ntantamis/AFP

Were it not for Marcos, Filipinos today would have been richer

Nov 24, 2016 - 12:28 PM

Millennials earning a monthly income of say P30 000 could instead be earning somewhere between P90 000 to P120 000 today

Money tips for millennials

Oct 23, 2016 - 11:00 PM

Living in the moment doesn t mean going broke Here are tips for making the most of your money to make the most out of life

Duterte's pivot: Are we ready for China's imminent debt crisis?

Oct 22, 2016 - 4:14 PM

Before we embark on ever deeper ties with China it’s imperative that our leaders – starting with the President himself – have a good idea of who we’re dealing with and what exactly we’re signing up for

China flag from Wikimedia Commons

Foreign direct investments in PH up 7% in July

Oct 10, 2016 - 7:30 PM

Total FDI net inflows for the first 7 months of the year reach 4 7 billion according to the Bangko Sentral ng Pilipinas

Debt mountain, weak banks imperil global economy – IMF

Oct 06, 2016 - 7:00 PM

High debt levels are costly as they often end up in financial recessions that are deeper and longer than normal recessions warns IMF Fiscal Affairs Department chief Vitor Gaspar

A man withdraws cash from an ATM machine in Athens on July 19, 2016.  The European Union and Greece hope to reach a deal on the crisis-hit country's debt mountain by the end of the year, EU economic affairs chief Pierre Moscovici said on July 18. An upcoming review of the Greek bailout in the autumn will include bad bank loans and a labour relations overhaul likely to cause social unrest. / AFP PHOTO / Kostis Ntantamis

BNPP: Not about nuclear; it’s about trust and accountability

Sep 21, 2016 - 10:00 AM

The discussion on the Bataan Nuclear Power Plant should not be equated with the discussion of nuclear power feasibility

REOPENING? The administration of President Rodrigo Duterte is mulling reopening the mothballed Bataan Nuclear Power Plant. File photo by Rappler

PH external debt inches up to $77.7 B for H1 2016

Sep 19, 2016 - 5:28 PM

Despite the increase the BSP says the debt stock remains manageable due to substantial international reserves and consistent economic growth

Philippine peso coins and a bank note at a street store in Manila, 10 January 2008.  Jay Directo/AFP/File