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Lito Atienza Answers VP Robredo’s Foreign Debt Trap Fear with the Marcos Gold

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welcome By: Elena Grace Flores

Lito Atienza might be the senior deputy minority leader of the of the house representing the opposition but he educates Vice President Leni Robredo. The government can’t get into a situation wherein it incurs too much external debt that suddenly becomes difficult or impossible to repay, Atienza explains on the P8-trillion economic infrastructure spending. It answers VP Robredo’a warning that the Philippines might fall into a debt trap if the government borrows money indiscriminately, especially from China.






Youtube video by; Rappler

[VIDEO]: Minority’s Suarez, Atienza discuss Marcos gold bars




Lecture on Economics

“We have no problem with borrowing money. Regardless of whether it is from Japan, China or South Korea. As long as the government spends the funds on sensible and beneficial projects,” Atienza said.

“If we are talking of infrastructures such as trains, expressways, and bridges—these will all help to provide new employment. They enable goods and people to move faster at a lower cost. Then they further stimulate overall economic growth,” Atienza said.




Government Trust

Atienza’s trust to the current administration is unlike other opposition lawmakers. He said growth, in turn, would translate to a larger economic asset from which government is bound to collect incremental tax income.

“Surely the administration will not obtain a project loan from a foreign government at a higher interest rate. This is if the same credit can be procured elsewhere at a lesser rate,” Atienza said.




The Marcos Gold

Atienza attests that he has personal knowledge of the Marcos gold when he was still a mayor. He also points out GMA’s interview with Congresswoman Imelda Marcos that shows all the gold shipment documents in one room. He said that the widow of the late President Ferdinand Marcos is the witness that the former President was already a gold collector since he was still single.







Not Stolen

Atienza urges the government to look into the issue as soon as possible. He agrees with Congresswoman Marcos that the wealth can neutralize foreign debts for the welfare of the people or the world in general. Presidential Spokesperson Harry Roque’s presence in the Press Conference signifies that the President pushes for Congress to facilitate the gold retrieval following the legal process. Can Robredo and other anti-Marcos opposition leaders swallow that? She can only give Bongbong Marcos further hard time on the VP manual recount. The truth always prevails.

http://www.manilastandard.net/news/national/267929/opposition-solon-allays-foreign-debt-trap-fears-amid-philippines-infra-bid.html




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