During his first inaugural speech in 1933, Franklin D. Roosevelt said: “Let me assert my firm belief that the only thing we have to fear is…fear itself'. Know more:
During his first inaugural speech in 1933, Franklin D. Roosevelt said: “Let me assert my firm belief that the only thing we have to fear is…fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.” Those words were meant to sooth and inspire a nation in dire economic times and the worst depression in history.
If you fail to pay your car loan or home mortgage, the lender will repossess or foreclose on your collateral. Loans to governments are not collateralized. Since 1980, Argentina has defaulted on its international debt six times, with Nigeria and Ecuador not far behind with five defaults each. But the Argentine presidential office/mansion is still the “Casa Rosada” and not the “Casa IMF.”
If I offered to loan you P10 million, payable whenever if at all and at 3 percent interest, would that be a good deal? The Philippine government’s total foreign and domestic debt service in 2021 was 2.992 percent of Gross National Income. In 2004 it was 11.1 percent of GNI, and in 2015 it was 3.1 percent. In 2021, the government paid P1.2 trillion in debt repayments including principal. Interest payment in 2015 was 13.3 percent, slightly lower than currently.
“A reserve currency is a foreign currency held in significant quantities by central banks as part of their foreign exchange reserves.” That’s it. The USD is not ordained as “God’s Own Money.” It is most widely held because there is more of it than any other and the US can be relied upon not to demonetize. You can buy a beer in Botswana—and every other place else on earth—with a “Benjamin.” The same cannot be said of a “Mao.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Avoid heat stroke: Here’s how to keep cool during the hotter daysI walk to the office every morning around 7 to 8 a.m. In January, I always get stoked on the 15-minute stroll because of the cool breeze despite the sun’s presence. But come March, I make sure to leave my boarding house before 8, before the sun becomes harsh and the surroundings unpleasantly warm and…
Read more »
From fashion to food: How a small business pivoted during the pandemicThe company's closure is unexpected, considering that the brand held an anniversary party and launched its Hello Kitty-licensed line of bags. That is until you factor in a global pandemic.
Read more »
Explainer: How to beat ‘heatstroke’ during the summer seasonManila, Philippines — The heat is definitely on now that the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) officially declares the start of the dry
Read more »
'He's getting healthier': BTS' Jin reaches peak weight during military serviceLooks like BTS' Jin is getting his well-deserved rest in the military. | via philstarlife
Read more »
CAAP: Airports on heightened alert during Holy Week, April 2-10The Civil Aviation Authority of the Philippines has announced that all airports under its supervision will be placed on heightened alert from April 2 to April 10 as the nation observes the Holy Week. | zacariansINQ
Read more »
Camille Prats gets her phone back after it was stolen during Blackpink concertCamillle Prats got her phone back after it was stolen during the concert of K-pop group Blackpink at the Philippine Arena.
Read more »