The Philippines Foreign Debt Miracle, Explained

Foreign debt is the most notorious instrument known in the Philippines, but is it really that bad?

Narrated by Tom Mckay
Video Edited by iyanbriandi

Timestamp(s):
0:00 The Debt Dilemma
1:18 The Historical Approach
2:52 The Modern Landscape
4:42 The Foreign Debt Components
6:22 The Private Sector
8:00 Summary

Brought to you by the Behind Asian Team.

[heidiceleridad]

Great job explaining how the financial status of the country is going. As long as there's no corruption and there's transparency on how the funds are utilized the country will have a good future.

[julym.]

Hello Behind Asia! I am a 16 year old boy who really love your videos and I mean REAALLY LOVE you-re videos because of how easy it is to understand economy of countries because I find it really difficult for me to understand such by reading books as I find it very very complex without easy-to-understand visual guides to understand everything that they are all saying at the book that this channel all have. More power to your channel and really hope that this channel get more bigger and achieve more people in the future! Thank you very much again, I dearly, dearly love the content that you make and will still continue to watch it!

[woeyou]

You gained a subscriber 👍 People of the Philippines just suffered beacause of government mismanagement but it's not late to catch up.

[edwinarcilla]

Am really glad Philippines is finally getting back on track.... Thank you!

[normanocampo]

Thank you, for more CLARIFICATIONS regarding foreign debts held by the Philippines.

[tgifriday]

Japan is a great help to us notwithstanding the past war atrocities to each other. They treat Philippines as if their province that must develop economically. In return, we are also supporting Japanese products and restaurants in the country.

[internationaldirector]

Eye opener info hope those government detractors will watch and analyze the scenario that Philippines is heading toward strong economic power as new industrialize country. Prayers and God bless Philippines.

[xiaph]

Debt is not bad, every country and every person use debt to gain properties they cannot pay cash but can pay in installments with interests attached! Loan to buy a house, a car, go to college/ university, start a business and expand a business, build and repair infrastructure! Without debt life will be more difficult. As you have said Debt is used to leverage

[kitldr]

The Philippines was one of the richest in SEA in 60s
I believe they will do it again just work harder
Love from🇲🇨❤️🇵🇭

[sunergi]

This is eye-opening as it is astonishing, this is really not being the talk of the mainstream media in the Philippines. Would you please cite your sources about these figures taken from? It is not to my disinterest but it would help me follow your sources so that I could better grasp the figures myself, too. Thank you.

[ABFAMILY-mx]

One of the most hardworking nations. Philippines 🇵🇭

[BattleSymphony]

Which is why we the philippine need to see the good side of our country.
Politics will always be here and everywhere, around the world.
Keep praying and trust in God.
We will stand taller than everybody someday just like before

[plantito]

Great explanation, little did we know bigger countries has far more bigger loan/ debts.

[dannybarcenas]

OFW's remittances helped a lot through those early years

[karlamay_]

I wonder who was PRRD's economic adviser because they really did a good job. It doesn't matter what political colors do we associate ourselves, we only have one country. My prayers to or President and government leaders, may you never forget the people who put you in our respective offices. Our lives and our future are in your hands. Mabuhay ang Pilipinas 🇵🇭

[ricklozada]

This is how the Government should explain to the critics especially to mass media here in the Phils.

[kanaefukuda]

If the philippines actually manages their debts correctly, with the proper investment (agriculture being the undermined one the most), you would see the philippines as the agricultural hub thatll support itself and other countries. Its safe to say, that the govt here doesnt do any step to further strengthen its already gifted potential.

[neloxcampo]

this video is well researched and well done.

[shn]

Debt is really not a problem, if we can see where the money is being spent on, and if the revenue from that debt is visible.

While debt can save the country along the way, corrupt politicians can do otherwise.

[AmazingPhilippines]

I have been traveling and living in the Philippines for several years now and the PH debt has been a concern so I really appreciate this discussion. It will be interesting to see what the last 2 1/2 years+ of lockdowns, travel restrictions, and economic disaster will do to these numbers as data becomes available. Tourism $$$ is a big part of the economy and has been nonexistent for most of 3 years and they will miss out on another "high season" as they are just now opening up to travel.