Marcos loyalist, certified Public Accountant and vlogger Edwin Jamora alerted Pinoy netizens a gem of online article from the website Virtual Capitalist with the title ‘Countries with the Countries with the Highest Default Risk in 2022’ to his FB followers.
The anti-Duterte and anti-Marcoses have been hitting both administrations with our 63.5% debt-to-GDP ratio so in light of this piece of good news, Jamora wasted no time in sharing this on his FB wall for the supporters of the Opposition who monitored his wall and of course to his FB followers, apparently to send the message the doom and gloom prediction of the Duterte and Marcos critics to shut up and quit using the Debt-to-GDP ratio as their favorite scare tactic because this won’t work.
Asked why? Because according to Jamora, you cannot find the Philippines in the 2022 list of countries with the highest default risk despite its 63.5% Debt-to-GDP ratio.
Jamora went on to explain that when looking at Debt-to-GDP ratio, you also take into consideration the countries economic indicators like GDP growth and what not in order to get the full picture. And based on our economic indicators thus far, the country’s economy is solid and has exhibited the ability to pay its debts. Jamora cited the outdoing Duterte admin paying some of its loans as an example.
You may now read Edwin Jamora’s original FB post below.
This is bad news for Anti-Duterte and Anti-Marcoses hammering both Administrations with the 63.5% Debt-to-GDP Ratio. What you’re seeing is a listing of Countries with the Highest Default Risk in 2022. YOU WILL NOT FIND THE PHILIPPINES IN THIS LIST despite the 63.5% Debt-to-GDP Ratio.
YOU KNOW WHY?
Because when you look at the Debt-to-GDP ratios, you also need to look at GDP Growth, Balance of Payments, Foreign Reserves, and the current climate of our number one and/or two trading partners, OFW remittances, among others. And these economic indicators show that so far, we have a solid economy and is able to pay our debts! Nag-advance payment pa nga si Digong on some of the loans, before he left!
Source: Edwin Jamora