ito debate paper ko (short lang siya) but this is to explain why I disagree with the lending of 1B dollars -_-
The Philippines should not have lent the IMF the 1B dollars, and should help themselves first. The Philippine government has good intentions to lend but why help other countries, when your own country has 40% of its population living in poverty.
We have been off the debts from the IMF since 2006, but that doesn’t mean that we don’t have any other debts to pay. Until now, we still have debts in the other institutions like the World Bank, and the Asian Development Bank. We should solve our economic problems first, and also pay our debts. The government cuts the budgets of education and public health, both of which are basic necessities. Most of the Filipinos don’t get proper education and their health benefits. Cutting the budgets of public hospitals will definitely weaken the public health care system. These hospitals are in need of proper and more advanced equipment to be able to serve the patients. Also cutting the budget of education is very distressing. Many of the public schools in the Philippines are in need of classrooms, furniture, and teachers. With the K-12 educational system passed, this means another set of classrooms are needed. With the budget cut of education, how will it satisfy the need of classrooms and other necessities that the school needs. If we could lend 1B dollars to IMF, then why do these budgets need to be cut?
One of the reasons why the Philippine government is lending 1B dollars is to secure the OFWs abroad. By lending the 1B dollars, we are affirming that the economic development of the country is solely dependent on the OFW remittances. This means that we are funding the external market more than the local market. This is why we have unemployment. We are focusing less on the local markets when in fact, we should focus more on them so that there will be investors and companies that will open their businesses here. This would then lead to employment. We should use our money to build roads, infrastructures, buildings, and etc. to make businesses flourish where there are no jobs. Our country lacks resources to build these infrastructures. Why not fund them for our economic development and lessen our dependency on OFW remittances.
In conclusion, the Philippines should attend to their problems first. There are many problems in the country where attention is much more needed than another continent’s economic problems. Our country is also experiencing economic problems. Why lend when there many are problems in your own country?
We have been off the debts from the IMF since 2006, but that doesn’t mean that we don’t have any other debts to pay. Until now, we still have debts in the other institutions like the World Bank, and the Asian Development Bank. We should solve our economic problems first, and also pay our debts. The government cuts the budgets of education and public health, both of which are basic necessities. Most of the Filipinos don’t get proper education and their health benefits. Cutting the budgets of public hospitals will definitely weaken the public health care system. These hospitals are in need of proper and more advanced equipment to be able to serve the patients. Also cutting the budget of education is very distressing. Many of the public schools in the Philippines are in need of classrooms, furniture, and teachers. With the K-12 educational system passed, this means another set of classrooms are needed. With the budget cut of education, how will it satisfy the need of classrooms and other necessities that the school needs. If we could lend 1B dollars to IMF, then why do these budgets need to be cut?
One of the reasons why the Philippine government is lending 1B dollars is to secure the OFWs abroad. By lending the 1B dollars, we are affirming that the economic development of the country is solely dependent on the OFW remittances. This means that we are funding the external market more than the local market. This is why we have unemployment. We are focusing less on the local markets when in fact, we should focus more on them so that there will be investors and companies that will open their businesses here. This would then lead to employment. We should use our money to build roads, infrastructures, buildings, and etc. to make businesses flourish where there are no jobs. Our country lacks resources to build these infrastructures. Why not fund them for our economic development and lessen our dependency on OFW remittances.
In conclusion, the Philippines should attend to their problems first. There are many problems in the country where attention is much more needed than another continent’s economic problems. Our country is also experiencing economic problems. Why lend when there many are problems in your own country?
