Philippine COVID-19 Debts Amount to P1.31 Trillion

COVID-19 debt payoff takes two generations; Ben de Vera authored this news article and published it in Inquirer on April 17, 2022.

According to the article, the Department of Finance (DOF) said on April 16, it will take 40 years, or about two generations, to repay the P1.31 trillion in foreign debt that the Duterte administration incurred for the COVID-19 pandemic.

As of January, the Philippines borrowed $25.7 billion (about P1.31 trillion) from banks and bilateral partners, but most P1.31-trillion debts were sovereign bonds, amounting to P559.1 billion, mature over the following years until 2060. And as of end-February, the national government’s outstanding debt reached P12.09 trillion and was projected to hit P13.42 trillion by year-end.

Editor’s Note: This makes us think covid jabs are “free” as the government adamantly campaigns, so who pays for these debts now? This will be a lifetime of repayment for some and for others, they’ll bring this to their graves.

Is there a sourer datum than this?

Perhaps why covid proponents are tenaciously inclined to inject all available experimental doses, even those near-expiry to everyone, is because they have overestimated the acceptance of Filipinos to take the jab. Or perhaps the secret contracts the government has with vaccine makers stipulated contractual obligations? [See Poland braces for legal battle as it declines to take or pay for more COVID vaccines; Leaked Pfizer contracts show they knew of adverse effects and lack of long-term efficacy of vaccines; Pfizer demands governments gamble with state assets to secure vaccine deal; Governments are signing secret vaccine deals]. Thus, requiring them to use up all the jabs; otherwise, they would be shamefaced of wasting the people’s money. To quote Senator Ping Lacson, “allowing 27 million doses or even a portion of it to expire is criminal and the height of incompetence and irresponsibility.”

Is the Philippines bound to the same fate as the other 110 countries that have signed a contract with Pfizer and other vaccine makers? [See Pfizer Controls Health Policy of 110 Countries, CCH Challenges the Duterte Government to Make Public Its Contract with Pfizer.]

If we employ critical thinking, here are plain truths:

These facts indicate the plan is expenditure in the semblance of a health emergency; where is the ordinary Filipino heading from here? How can the Philippines take off from all this spending on purported pandemic and experimental jabs? Also, is the indemnity fund of 500M still intact? Is PhilHealth prepared for the inundation of severe adverse events and fatality because of these jabs? When will the jab mandate end? Or will it be a regular regimen until our nation has nothing left but debts and an imploded healthcare system? [See 2021 Excess Deaths in the Philippines Shows Pandemic, but it is Not COVID; Philippine Hospitals Inundated With Non-COVID Patients: Could These be the Adverse Effects of COVID Jabs?; Is it True that the Majority of Hospitals are Occupied by the Vaccine-Free with COVID-19?; The Philippines Sees Uptick on Heart Disease Incidences During Pandemic Says Expert.]

Cui bono?

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