Category: Philippines

Foreign debt: the price of greed?

(September 21, 2002) “Ferdinand Marcos…probably surpassed all other politicians at fiscal manipulation, economic favoritism and ‘cooking the books’ to enable themselves, their friends and their relatives to steal from the Filipino people,” said Patricia Adams.

PRESS RELEASE Philippine government to dismantle Marcos’ nuclear plant

(October 19, 1999) The debt-ridden Philippine government has decided to dismantle and sell the assets of the Bataan nuclear plant. The $2.3-billion (U.S. dollars throughout) plant, a painful reminder of the Ferdinand Marcos regime, costs Filipino taxpayers more than $170,000 a day in interest and accounts for more than 5 per cent of the country’s total debt.