FDC In The News

During the 1st General Assembly of People’s Against Illegitimate Debt last January 12th at the St. Joseph College in Quezon City, a crew of ABS-CBN covered the entire event. Said event was aired over ABS-CBN News Channel (ANC). Our news release was also used by Malaya reporter Job Realubit and Micronesia’s Daily Marianas Variety’s Nelson S. Badilla.

Malaya
14 January 2008
http://www.malaya.com.ph/jan14/news7.htm

Audit of debts urged

AN Independent Citizens Audit Commission should be created to examine government’s books to find out its real debt situation, said the People Against Illegitimate Debt (PAID!) over the weekend.

The group, composed of more than a hundred local and national organizations, said it is alarmed over the extent of public debt that the administration of President Arroyo has accumulated, which it placed at P3.8 trillion or $81.6 billion as of last November.

“More than just the burden of payments, there is the fundamental injustice. While citizens are forced to pay, much of these debts were contracted without full public transparency and accountability, and without full compliance with democratic processes, and did not benefit the people,” the group said in a manifesto.

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Daily Marianas Variety
15 January 2008, Micronesia
http://www.mvariety.com/?module=displaystory&story_id=5177&format=html

Philippine Digest: Foreign debt

MANILA — Activist Lidy Nacpil, vice president of the Freedom from Debt Coalition, says economists, civil society leaders and political analysts have launched a 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.

She said the administration has failed to do what is right for the country as indicated by the government’s huge deficit, skyrocketing interest payments on its debts, and government borrowings reaching unprecedented levels.

She said they will campaign for a congressional audit of public debt and contingent liabilities.

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