Tag Archives: Philippine Debt Repayments From Marcos Regime Overshadow Relief Monies To Assist With Typhoon Reconstruction

Philippine Debt Repayments From Marcos Regime Overshadow Relief Monies To Assist With Typhoon Reconstruction – 2 December 2013

common-dreamsJubilee USA Calls for Moratorium of Debt Payments and Public Audits of Loans in Wake of Typhoon Haiyan

WASHINGTON – November 30 – Two weeks after Typhoon Haiyan devastated the Philippines, the world has responded with astounding generosity, donating tens of millions of dollars to aid in the recovery effort–$37 million from the United States government alone. Unfortunately, since the typhoon struck on November 8th, the Philippines has spent more than $310 million paying off overseas debts, and it will spend a total of $6.7 billion this year alone. Some of those debts are from the corrupt and abusive regime of Ferdinand Marcos. Lenders are still collecting repayments on these loans, taking away resources that could be used to rebuild after the typhoon, and to further protect the Philippines from the repercussions of climate change. Continue reading

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CommonDreams – Philippine Debt Repayments From Marcos Regime Overshadow Relief Monies To Assist With Typhoon Reconstruction – 1 December 2013

common-dreamsJubilee USA Calls for Moratorium of Debt Payments and Public Audits of Loans in Wake of Typhoon Haiyan

WASHINGTON – November 30 – Two weeks after Typhoon Haiyan devastated the Philippines, the world has responded with astounding generosity, donating tens of millions of dollars to aid in the recovery effort–$37 million from the United States government alone. Unfortunately, since the typhoon struck on November 8th, the Philippines has spent more than $310 million paying off overseas debts, and it will spend a total of $6.7 billion this year alone. Some of those debts are from the corrupt and abusive regime of Ferdinand Marcos. Lenders are still collecting repayments on these loans, taking away resources that could be used to rebuild after the typhoon, and to further protect the Philippines from the repercussions of climate change. Continue reading