Karen Davila Slammed by BSP Gov Diokno After Saying Gov’t Has no Money
Bangko Sentral Governor Benjamin Diokno slammed broadcaster Karen Davila after saying that the government has no money.
In response to a question from ABS-CBN broadcaster on the government’s budget, incoming Finance Secretary Benjamin Diokno gave a heavy response. On May 27, during Davila’s interview with Diokno, the journalist asked the economist a straightforward question about the suspected theft of government funds.
Davila allegedly stated that the government does not have any funds. It should be noted that the Philippine debt has surpassed 12 trillion pesos, which has many netizens concerned about the country’s future.
“I will make it simple. Walang pera ang gobyerno! So you will be facing a lot of challenges as the new Finance Secretary of the incoming Marcos administration. So what is the plan?” Davila asked.
Based on his 30-year stint in government, Diokno instantly highlighted that the government is now in a favorable position. In comparison to prior administrations, he claims the Philippines now has higher foreign reserves.
They also stated that the government will not have a problem paying its debt because the Duterte administration will leave a healthy tax framework. He also stated that the Philippines has at least 9 months’ worth of import reserves under the Duterte administration.
“I had the benefit of having served the government for more than 30 years, and I have seen all kinds of crisis. I’ve seen the worst of our economy, but we are in a better position now. Prior to the Duterte administration, we were heavily indebted and had a hard time arguing with the IMF. Before, our foreign reserves will last for only 2-months at least. But with the Duterte admin, we have at least 9-months worth of import reserves,” Diokno said.
He went on to say that the government now has no problems paying its obligations, which are largely internal rather than foreign, and that it is a net contributor to the International Monetary Fund (IMF). It is also proud of the Build, Build, Build program, which can help the country’s economy expand in particular.
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