Read this in The Manila Times digital edition.
LAST week, the United Nations Conference on Trade and Development (Unctad) released its biannual report on global public debt, and the news was alarming. Global public debt reached an all-time record high of $97 trillion in 2023, prompting Unctad to call on the UN to take "urgent action" to prevent a financial crisis. While the Philippines is not among the countries considered most at risk, our own circumstances are far from ideal and should be addressed with more urgency.
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