What can ONE do to help my country (Philippines) to erase/reduce its international debt?

Question

About 70% of our country's national budget is for debt payment (interest alone is about 30%)...> Which leaves us only 30% percent to work for in a nation of 80 million people...>

I've specified ONE, the group which is being promoted by U2's Bono and other celebrities, as the group that, as they've done with African nations, would/could help my country...>

Answer 1

The Philippines have a large number of advantages you should consider utilizing. Your nation is in close proximity to many booming Asian economies, you have a multilingual population of people who speak both English and Spanish, and you have a very creative population. India is probably the closest parallel to your situation. One thing that India is doing is encouraging technology companies to move in. They are NOT doing so through regulation but quite the opposite - deregulation. When it comes to economics (with a few exceptions like securing patents, copy-writes and trademarks) government regulations are the enemy, not the solution. When in doubt deregulate. That is what I would do. The Philippine Islands could have a great future ahead of them. If you are really interested learning more about economics I recommend visiting the Ludwig von Mises Institute. http://www.mises.org/
I wish you luck,
Ryan

Answer 2

a extra proper question to ask is how did the Philippines finally end up like this interior the first position there are alot of causes yet as far as my opinion is going i imagine 2 pivotal issues that made the Philippines how that is now. variety a million - The occupation by using the eastern in WW2, In 1940 Manila changed into considered the Pearl of the Orient the position people from around the international worked and lived and it turned right into a time the position the Philippines changed into doing nicely for itself till the eastern invaded in 1941 wich in result has halted their progression as an Independant u . s . upto this very day and the devestation that noted the retaking of the country devestated its skill always to regain stability for itself. variety 2 - American Infulence, even although the individuals are those who drove the eastern in another u . s . they in part took administration of the country from then on. certain they have placed alot of money into making the Philippines extra proper yet on the different hand wager the position all those positive issues that Western Foreigners savour a lot are being made by using someone who earns below 10 funds an afternoon, The Philippines. Alot of nicely comprehend manufacturers along with Marlboro,Colgate etc have many production web content interior the Philippines the position they pay the staff peanuts and each of the income is going to distant places vendors. to have the capacity to sum all of it up the Philippines besides the actuality that it does of route have alot of political,social and reasonably-priced complications its probably between the only some international places that has been through a lot crap yet the individuals themselves for my section are the reason of the various good things you discover there. So before absolutely everyone only blames a particular lot of folk like the "squatters,bums and occasional lives" of the Philippines imagine demanding and delivers it a idea on how they ended up that way. bypass the Philippines bypass you good component. Peace!

Answer 3

Best way to stop the debt my friend is to simply stop borrowing. The thing is despite our "La Presidentia's" EVAT and other Taxes our Government continues its excessive borrowing which then goes to projects which are rarely finished thanks to the sad state of affairs in our national and local government. We could also help by supporting the removal of the corrupt and incompetents in our government (whether you are pro- or anti-Arroyo doesnt matter, they do exist and in vast numbers). Finally (and perhaps the only thing we individuals can really do) you could just pay the right taxes...it helps when the government uses money that it earns via the right taxes rather than on borrowed money...though again yes the spectre of corruption hangs over us.

Answer 4

You wanted the U.S. military to leave your country now you will have to become an industrial country. Be careful what you ask for because you just might get it!

Answer 5

subsidize farming,
any country that close to the equator should be growing as much fruit as possible and getting it to the world market. every inch of land should be exploited.

Answer 6

I think recover all the marcos hidden wealth and thier cronnies, then pay all d debt@wb....kill all the dirty politician in philippines!!!they make us supper...