GMA News
Imee insists moratorium on paying gov't debts a 'necessity' amid COVID-19
Senator Imee Marcos reiterated her call for the government to implement a debt moratorium, emphasizing that the real enemy is COVID-19, not the proposed measure.
Marcos urged Finance Secretary Carlos Dominguez III to understand that a debt moratorium means a temporary suspension of debt payments, not an evasion of obligations.
She argued that the moratorium is a necessity, citing the International Monetary Fund's view that it's crucial for nations with limited resources and weak healthcare systems to survive the crisis.
Marcos stressed that the country needs the funds from the moratorium to provide aid to Filipinos facing hunger due to the prolonged lockdowns.
Her statements came after Dominguez described the suggestion as "narrow-sighted" and not part of the country's crisis response measures.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Finance Secretary Carlos Dominguez III rejected Senator Imee Marcos's proposal for a debt payment moratorium to fund COVID-19 aid, deeming it "narrow-sighted" and potentially damaging to the Philippines' international credibility.
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Senator Imee Marcos proposed a temporary suspension of the Philippines' debt payments to allocate funds for cash aid to individuals and companies affected by the enhanced community quarantine due to the COVID-19 pandemic.
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The Philippine government is not considering a debt moratorium to fund its COVID-19 response, citing potential severe repercussions.
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Bayan Muna representatives Carlos Isagani Zarate and Neri Colmenares urged the Duterte administration to consider a debt service moratorium with international lenders to fund the country's recovery from the COVID-19 crisis.
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President Rodrigo Duterte admitted that the P275-billion coronavirus response fund is not yet on hand, as it is still to be collected in the second, third, and fourth quarters of the year.
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