FDC In The News: On Malacañang’s reaction

Malaya
05 March 2008
http://www.malaya.com.ph/mar05/metro2.htm

Debt Audit Commission a necessity, insists FDC
Job T. Realubit

THE Freedom from Debt Coalition (FDC) yesterday castigated Malacañang for brushing off the initiative of private groups and concerned citizens in forming an independent audit body that will investigate the allegedly illegitimate loan-financed projects and programs of present and past administrations.

The group contradicted Mala-cañang’s claim that there is no need for an independent audit body because the country’s debt is already shrinking.

FDC vice president Liddy Nacpil, who is also a member of the Independent Citizens’ Debt Audit Commission, said the reduction is negligible and not based on sustainable factors. “Besides, the issue is not just on the amount, but on the anomalous and illegitimate nature of the debts,” she stressed.

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