FDC In The News

Our advancer story on the January 12th activity came out in Inquirer.Net (09 January 2008) and BusinessMirror (10 January 2008, Page A5).

Below are parts of these articles and their respective links.

Bobby Diciembre
Public Information Department
Freedom from Debt Coalition (FDC) – Philippines
Email: bobby@fdc.ph

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Breaking News / Nation
http://newsinfo.inquirer.net/breakingnews/nation/view/20080109-111377/Groups-press-for-independent-foreign-debt-audit

Groups press for independent foreign debt audit
By Jerome Aning
Philippine Daily Inquirer
Posted date: January 09, 2008

MANILA, Philippines — Campaigners from more than a hundred local and national organizations will gather in Quezon City on Saturday to launch a “people’s petition” for the creation of an Independent Citizens’ Debt Audit Commission composed of civil society leaders, political analysts and respected economists.

In a press briefing, leaders of the People Against Illegitimate Debt (PAID!) movement said the event would mark the first general assembly of its member groups and affiliate organizations and individuals. The event will also feature speakers from the debt campaigns of other countries who will share their experiences and recent major developments in the international debt movement.

Lidy Nacpil, vice president of the Freedom from Debt Coalition (FDC), said they first sounded the alarm on a full-blown fiscal and debt crisis five years ago but still, “the government failed to do what is right for the country.”

[READ MORE]

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BusinessMirror
10 January 2008, Page A5
http://www.businessmirror.com.ph/01102008/nation01.html

Citizen’s debt audit commish pushed
Economists, civil-society leaders push proposal
By Fernan Marasigan
Reporter

RESPECTED economists, civil-society leaders and political analysts have launched the people’s petition for the creation of an Independent Citizens’ Debt Audit Commission that will conduct a critical, comprehensive, participatory and transparent examination of the Philippine public debt and contingent liabilities.

Lidy Nacpil, vice president of the Freedom from Debt Coalition (FDC), said that it has been more than five years since various groups warned against a full-blown fiscal and debt crisis and still the government failed to do what is right for the country.

Nacpil said that among the indicators of the debt and fiscal crisis include the government’s huge deficit since 1999, skyrocketing interest payments on the National Government debt and government borrowings reaching unprecedented levels.

[READ MORE]