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Pamalakaya urges PHL debt review

Manila, Philippines – Congress must review the country’s external and internal debt and determine measures on how to ease the repayment burden of 94.9 million Filipinos.

The Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) issued this suggestion yesterday since the total debt payment stood at P597.5 billion as of September 11. Pamalakaya national chairperson Fernando Hicap said Senate President Juan Ponce Enrile and House Speaker Feliciano R. Belmonte Jr. must take the lead in finding concrete solutions to escape the debt trap that has hindered the country’s economic for more than half a century. “Debt and death become this nation.

Something decisive must be done by Congress to stop this mind-blowing debt servicing policy of previous administrations which is still being carried out by present occupants in Malacanang led by President Aquino. This regime of debt and death must be put to an end,” said Hicap. (Marvyn N. Benaning)