The AGSB Advantage
What? PHL now a creditor nation?
The Philippines officially became a creditor nation by contributing $25l.00 million to IMF FTP (Financial Transactions Participation). Half of that amount will be used to bail out Greece and other distressed Eurozone countries. This is a far cry from the Philippines of yore whose debt instruments are discounted at the world market, when IMF was imposing belt tightening, when activitists were always shouting that IMF is a tool of imperialists......
In 2006 PHL prepaid all its debts to IMF; making an early exit. GIR of PHL stands at $7l billion which could go up to $77B by year end.
What is the significance of this change of status to the PHL?
What is the impact to PHL economy and entrepreneurs.?
Will this increase our nationalistic fervor? Our pride of our country?
What? PHL now a creditor nation?
The Philippines officially became a creditor nation by contributing $25l.00 million to IMF FTP (Financial Transactions Participation). Half of that amount will be used to bail out Greece and other distressed Eurozone countries. This is a far cry from the Philippines of yore whose debt instruments are discounted at the world market, when IMF was imposing belt tightening, when activitists were always shouting that IMF is a tool of imperialists......
In 2006 PHL prepaid all its debts to IMF; making an early exit. GIR of PHL stands at $7l billion which could go up to $77B by year end.
What is the significance of this change of status to the PHL?
What is the impact to PHL economy and entrepreneurs.?
Will this increase our nationalistic fervor? Our pride of our country?
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