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By Luis Leoncio After revealing that the Aqui­no administration incurred a record P4.16-trillion debt in just five years, the Freedom from Debt Coalition (FDC) is now demanding that the gov­ernment make a public ac­counting on how it used the borrowings to improve the lives of the Filipino people.“A detailed explanation by the government is long over­due on how the loans were contracted, where they went, how they were used and what became of the programs and projects on which they were supposedly spent,” the FDC said. Purisima, seeking to rebut the budget and debt watchdog for claiming that the President has become the biggest loan addict among Philippine chief executives, said the current administra­tion has been very active in the international capital mar­ket as part of its liability-man­agement program, enabling it to lengthen debt maturities at lower cost.

18, the govern­ment again borrowed bil­lion in 25-year US dollar-de­nominated global bonds, with an interest rate of 3.7 percent, the lowest coupon ever issued by the country to date.

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“We have enough mon­ey internally to finance all our requirements and we have enough money to pay for our debt.

It is not advis­able to borrow money from abroad,” he said.

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