The Philippines on debt row

Beja, Jr., Edsel (2009): The Philippines on debt row.

Abstract

Heavy indebtedness and debt service payments, indicated by debt magnitudes and shares to national budgets, revenues, or outputs, mean that spending for public infrastructure and basic services is crowded out, even as they entail more borrowings in order to timely meet debt obligations. The failure to reduce indebtedness, improve national revenues, and raise incomes has contributed to the economic decrepitude of the Philippines. Debt relief is neces-sary to pull the country out of such a state of affairs.

• Item Type: MPRA Paper
• Language: English
• Keywords: Philippines, indebtedness, debt penalty, debt relief,
• Subjects: F - International Economics > F3 - International Finance > F34 - International Lending and Debt Problems; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O53 - Asia including Middle East; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O10 - General; H - Public Economics > H6 - National Budget, Deficit, and Debt > H60 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B50 - General; O - Economic Development, Innovation, Technological Change, and Growth > O2 - Development Planning and Policy > O20 - General

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