By: Elena Grace Flores
YouTube video by Imee Marcos
Senator Imee Marcos explained her proposal for a debt moratorium on Agila Balita
Debt Moratorium can Help SMEs
Senator Imee Marcos explained her proposal for a debt moratorium, saying the request for payment relief from international creditors will only be for a period of one year.
During the interview with anchor Weng de la Fuente of Agila Balita over Net 25, Sen Marcos was also asked about her economic recovery plan and suggested, among others, that the government can help hardest-hit MSMEs by subsidizing up to 75% of their payroll costs.
Begging for the Kind Heart of the Finance Secretary
Senator Marcos is still hopefull that Finance Secretary Carlos Dominquez would consider her debt moratorium proposal. This is just to delay debt payments for a year. That amount could help in making SMEs afloat during the times of crisis. She said that Dominguez is a kind-hearted man so he would eventually see where she’s coming from for the sake of the suffering Filipinos.
IMF-Listed for the Financial Aid
The Philippines is one of the listed countries that can avail of the debt moratorium. Progressive countries including America is actually availing of the said arrangement. It can also happen that the international lending institution would offer the deal themselves due to the pandemic. It would be very questionable if the Finance Secretary would refuse this.