With the Philippines now classified as upper-middle income, Bagong Alyansang Makabayan (BAYAN) hopes the government will not use this status as a reason to borrow more from the World Bank.
Rauf Sissay of BAYAN explained that every loan often comes with conditions tied to programs, such as the K-12 education reform, raising concerns about the growing national debt.
He noted that the country’s debt has already reached ₱18 trillion, and further borrowing would only burden government finances with endless obligations.
The group urged authorities to focus on genuine development for ordinary Filipinos instead of relying on foreign loans.
