Category Archives: 5th Jun 1988

TO PAY OR NOT TO PAY – THE PHILIPPINES’ DEBT DEBATE

5 June 1988 Reuters News English (c) 1988 Reuters Limited  MANILA, June 5, Reuter – To pay or not — that is the question facing the Philippines, only Asian nation on the World Bank’s list of 17 highly indebted, middle-income countries.  The Philippines, with a foreign debt of 28.7 billion dollars, has received no new…

Philippine debate over debt payments alarms foreign banks 

6 June 1988 The Toronto Star FIN B4 English Copyright (c) 1988 The Toronto Star  MANILA, Philippines – “No one’s talking new money, so we must reduce external outflows,” Economic Planning Secretary (Minister) Solita Monsod said in a newspaper interview.  “Confrontation is a state of mind. We’re not saying that we won’t pay, just that…