As a nation we must keep an eye on the internal and external 'Economic Hitmen' that started to control our economy and central bank from 1958 onwards converting us from a debt free to a debtor nation
. It calls for a Captain's knock from the Kaptaan, for which he needs support not criticism.
A rating upgrade will essentially reduce the cost of foreign borrowings, as banks and lenders view the Philippines as a less risky debtor nation
. The lower cost of money, in turn, will lower the production cost in the country, and serves as an incentive to companies to borrow more to finance their expansion.
'In his false economic assertions, President Buhari deliberately failed to mention that his administration has returned our beloved country to a debtor nation
by accumulating over N22.4 trillion debt through which he had mortgaged the future of our country.
The two objectives that are achieved as a consequence are the continued status of the country as a debtor nation
and a dictated policy of continued subservience.
In doing so, the IMF will provide some new financing to the debtor nations
and impose conditions on the country's economy, which are designed to help the debtor nation
grow, to be able to pay on the restructured bond as promised, and to repay the IMF for the funds it advances.
"For the first time in its history, it has gone and made a decision aimed at supporting the economy of a debtor nation
, disregarding the circumstances of the case and existing legal agreements, exclusively for political reasons," Prime Minister Dmitri Medvedev said of the IMF in a Wednesday interview with Russian TV.
While Treasuries are poised for the first drop since 2009 as the longest-term bonds suffer the world's deepest declines, the willingness of foreign central banks, insurers and pensions to finance the largest debtor nation
may temper a further jump in U.S.
Creditor countries that participate in the negotiation sign a so-called 'Agreed Minute.' The Agreed Minute recommends that creditor nations collectively sign bilateral agreements with the debtor nation
, giving effect to the multilateral Paris Club agreement.
Louis Hyman, Debtor Nation
: The History of America in Red Ink (Princeton: Princeton University Press 2011)
America's negative investment position, in place since 1986, reflects the debtor nation
's need to fund a large current account deficit, which hit its widest point since late 2008 in the first quarter of this year.
To wit, few except Germany are in better shape presently than the Netherlands, a perennial debtor nation
even during periods of last decade that is now in somewhat of a catbird's seat.
Facing major economic troubles, the United States is reportedly the world's largest debtor nation