Philippines lending US$1 Billion to IMF.

Honestly I think or feel that if we have excess money, we should first concentrate on upgrading our defense capabilities ( although we had already began to upgrade)I think we still lack or are lagging behind. In my opinion, what good is doing business,education, infrastructure etc....if we cannot defend our sovereignty first as a nation from internal as well as external threat, we had neglected this for a long time due to corruption so it's high time we catch up, but then again it's just my personal opinion and others might have other ideas as to what to do with the money.

There are several problems to be addressed first of all whee does all the extra vat duty go imposed since 2005 hard to see how the philippines benefits from this and we are too reliant on overseas remittances, and still unemployment is so high and many millions of families below the poverty level, the way i look at it they are only interested in the next upgrade for a credit rating.

What the...that USD 1 Billion can give much improvement to the quality of public education in the Philippines. There are a lot people starving and jobless yet they did not say that they have THIS amount of money. Think about the number of people who can be fed and the number of jobless who can be taught entrepreneurial skills. This is a country not a business. Dammit.

Exactly,they wanted to lend such amount because of the interest, while the government existing debt has much higher interest than what they expecting from that $1B loan interest.

Hmm that's quite good for our country. My last class was INCOME TAXATION and our professor told us about tax in relation to fiscal adequacy. Unfortunately, he said that every person in the country is indebted by Php 50,000.00 and that really implies that we lack funds. I just can't understand why the country doesn't want to exert more effort and pay all the country's debt (like now, Ph will buy 12 fighting jets costing 15billion pesos, if i'm not mistaken), and for us to be free.

The Philippines lending US$1 Billion to IMF is real proof that GMA had steered well our economy during the Global Economic Crises, unlike the press releases being made by the present government. Reserved money is very different from the government budget. All nations are required to have a national reserved. This reserve will guarantees that we have money to pay for all our dealings with other nations. This is the main purpose of a "national reserve". While we have able to pay our debt with IMF, the government international and local debts stood at P5,156.66 billion as of July 2012. http://www.treasury.gov.ph/news/news/NGdebtJul2012.pdf The stiff rise of poverty after the reign of Marcos dictatorship can be attributed to the Cory Constitution that limit foreign capitalization in the country, while all our neighbors are attracting foreign investors giving them the right for 100% capitalization. If not for our unsung heroes, our beloved OFW, pinulot na tayo sa kangkungan!

economically, we are in good shape. we have huge cash reserves in US dollars that keep on growing because of foreign remittances from ofws. we graduated from debtor to creditor since few years back. on poverty, the government can only do so much. individual citizens must do their part to help themselves to resist from poverty. what is good now in our country is that wealth is being produced. and it is time to share it with others.

In fact, a few months back, even India pledged some billion dollars for Eurozone crisis to IMF or World Bank. Yet, there are many poor people in India also. I think when such countries pledge money, they expect to gain more in higher interest charged on certain loans given to companies facing huge debt. This is my personal view.

You need to realize that Philippine government treasury department lend those money to IMF in return for high interests payment, they are not just given out to IMF for nothing. Philippine is not a poor country like most people like to believe nor it is very rich. I am sure those government officials know very well if the loan work out for the country, they can begin to collect interest payment soon compare to spending them in the economy to create job, the money may help in a stagnate domestic economy and create some works for the population, but the mathematic still work in favor of the treasury department, in turn making the government wealthier. They may have believe it is always better in this way.

This is good news. Although we could surely make use of that money if it's spent in the Philippines. The thought that we are now lending IMF is one good tap at the back for all of us. It means we're better off to the world. And in a global economy, perception is important. Let's just hope that the interest would be spent wisely.

Well, I wonder how did that benefit the country now. Unfortunately, it has something to do with the current President.

I agree,the government should use that excess money to improve the living conditions of many of poor Filipinos.