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Robredo’s Debt Fear on Bicol Express Railway System Like Sri Lanka Hampers her Region’s Growth


welcome By: Elena Grace Flores

Vice President Leni Robredo once again discloses her unsolicited opinion that is unlogical as usual. How exactly are we going to end up like Sri Lanka? Does she fear that the Bicol Express railway system becomes useless as MRIA and the Hambantota port? Is she not convinced that the project would generate sustainable revenues? Can she tell us how the Bicol Express financed by Chinese loans would fail to aid the economic development of her region? She can answer these questions to be neutral. Spreading doubt using the debt scare mentality that maligns the government she serves is indeed a self-destructive move.

Youtube video by; UNTV News and Rescue

[VIDEO]: Nangangamba si Vice President Leni Robredo na baka mabaon sa utang ang bansa sa gagawing pag-utang ng Department of Transportation o DOTR sa China para sa Bicol Express modernization program ng pamahalaan.

Sri Lanka Debt Trap

What led to the Sri Lankan debt trap? Is it the mere act of financing these projects with Chinese loans? Or is it the failure of these projects to generate revenues? One can easily see that Sri Lanka fell into a debt trap because the infrastructure they built using the debt were useless. They failed in their business plan for economic growth in the Hambantota region.

Lack of Substance

Robredo is famous for making brainless comments. All shine but lack in substance. How exactly are we going to end up like Sri Lanka? Taking a loan from China does not give us the same fate as the latter. Instead of praising the previous administration’s plan that went nowhere, she could have offered a more sophisticated comment commensurate with the mandate of her current government position.

Background of Sri Lankan Project

According to the Manila Times;

Sri Lanka’s debt trap was caused by large-scale infrastructure projects of the administration of President Mahinda Rajapaksa. Some of these are the Hambantota port and the Mattala Rajapaksa International Airport (MRIA). Both were largely funded by loans from China. These projects aimed to make Hambantota, Rajapaksa’s home region, become the second Colombo. As Wade Shepard wrote in Forbes magazine (May 28, 2016), “the idea was that Hambantota would be transformed into Sri Lanka’s second most prestigious city. It would become a place built on international trade and commerce, that would be full of joint ventures, [foreign direct investment], and everything a modern city could desire.” Yet both projects failed to generate economic returns.

Fearmongering and Biased Views

Without knowing all the facts mentioned, Robredo’d crude use of the Sri Lankan analogy is nothing but fearmongering. The P175-billion overseas development aid to be borrowed from China will be used to revive the operation of the Bicol Express, Undersecretary for Rails Cesar Chavez said. It is not a rehabilitation but a reconstruction. Everything is new. No traces of the LP administration at all.

Wanted: Leni’s depth

2 thoughts on “Robredo’s Debt Fear on Bicol Express Railway System Like Sri Lanka Hampers her Region’s Growth

  1. Yan ang problema sa mga lawyer, wala silang nalalaman tungkol sa finance and economics. Train is the wises, most reliable and most economic way of transporting people and goods. Even G8 countries rely on trains in this modern world. Takot sya kasi hindi na nila makukurakot ang operation budget para dito.

  2. Wala talagang alam si Lani Robredo sa mga Project Planning wala siyang vision and foresight for the development and future progress of our economy. Makikita mo ang level ng utak ng isang government officials hindi nag iisip ng maigi bago mag komento bunganga lang ang gumagana. Siyempre kapag umutang ka mula sa ibang bansa at ginamit sa mga Infrastructure Project gaya ng pagpapatayo ng mass transportation,skyway,roads and bridges to improve and ease the traffic congestion and build more secondary roads connecting from remote areas such as barrios and small town to urban cities so that farmers can easily travel and sell their farm products to the city, build more industries to minimize importation of goods and services and lessen dollars expenditures, mas maraming project mas marami ang magkakaroon ng trabaho,ang lahat ng mga Proyekto ito pag natapos ay mag generate ng revenue mula s nakolekta ng ating gobyerno na siya naman ipang babayad sa utang panlabas ng bansa at ang matitira ay siyang income ay magagamit naman sa mga iba pang Project ng ating pamahalaan.

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