The Philippines on debt row

Beja, Jr., Edsel

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Philippines; indebtedness; debt penalty; debt relief (search for similar items in EconPapers)
JEL-codes: B50 F34 H60 O10 O20 O53 (search for similar items in EconPapers)
Date: 2009-08-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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