Conduct public hearing on China loans | Inquirer Opinion

Conduct public hearing on China loans

05:03 AM August 08, 2018

Why is it that our economic managers continue to keep the terms of China’s loans a secret?

Many countries have been victimized by China’s “debt trap diplomacy.” Malaysia’s Prime Minister Mahathir Mohamad canceled all their Chinese loans upon his election.


Unless our leaders have the wisdom and courage of Mahathir, we will join Sri Lanka, Mongolia, Venezuela, Kenya, and others in their journey to perdition.

We urgently need Congress to conduct public hearings before we fall into this debt trap.


These public hearings should cover transparent cost-benefit analyses; comparative interest rates and conditions from Japan, the International Monetary Fund, the Asian Development Bank and the World Bank; collaterals pledged to back up the loans; and lessons learned from our previous experiences with Chinese loans such as ZTE and the NorthRail Express.

DIONISIO GIL JR., [email protected]

Subscribe to our opinion newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: China loans, China-Philippines relations, Dionisio Gil Jr., Inquirer letters
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2023 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.