Question

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Why do u think Philippines should lend money to the European Countries which costs 1 billion dollars because of financial crisis ?

Answer 1

I am surprised the Philippines has lend $1 billion to IMF. this is the first time i have read that the philippines has lend $1 B. From what i know Philippines still have debts and how come Philippines are able to lend that much. It is said that they still have some billion dollar reserved so we can lend that much. ANyway, i don't understand how come they can have reserved while in big debt. THe IMF borrowed money to help economic turmoil in Europe. I have no problem with that as there are so many filipinos who are working on those countries. and so with helping their economy is like helping our own people too.
Or The government may have that noble purpose, I think, they must have the thorough deliberation or extrapolation stuff like that before proceeding with it. That is more or less 42 billion pesos and it is a lot of money to feed their hungry countrymen or classrooms for their children or to slash their nation debt or create jobs, the list never ends... Let's just see the effect of this. Otherwise, we may expect another upheaval.