- MITCH M. LIPA
The Freedom from Debt Coalition (FDC) cited the P13 trillion debt of the Philippines from foreign lenders as the biggest challenge that the next president of the country will have to face.
In a forum held Sunday in Bacolod City, Rene Ofreneo of FDC said that whoever will be the new leaders of the country will also have a difficult time resolving the effects to the Philippine economy of the COVID-19 pandemic and the war between Ukraine and Russia, among others.
Ofreneo said there is also the possibility of the resurgence of COVID after the elections and the political and economic uncertainties under the new administration.
Prescila Goco of FDC-Negros said the existing financial woes of the country cannot be resolved by the succeeding president in the next six years.
Payment of the foreign debt alone, which amounts to trillions of pesos every year, will have an impact in the delivery of basic services and the sustainability of government programs, Goco said.
She added that the crisis brought by climate change is another challenge for the next leader.
The forum was attended by representatives from nongovernment organizations and the peasant sector in Negros Occidental./MML
