European Network on Debt and Development 39d ago

The Philippines is on the front line of the debt and climate crises, and Filipino women are the ones picking up the pieces. The country is facing the highest debt levels in 20 years, due in part to loans taken on to recover from devastating climate shocks. In 2024, more than a third of government revenue (37.13%) went to servicing public debt, while just 8.77% was allocated to health. Although external debt service alone absorbs only 8.4% of government revenue, the inclusion of domestic debt obligations dramatically increases the overall burden. In this chapter, the 2nd of our #RealCostOfDebt series, the women on the front lines of both these crises, tell their stories of rebuilding their lives, how they have been largely abandoned by the government, and how they are mobilising against policies that prioritise debt repayments over the needs and safety of everyday Filipinos. Learn more: http://www.eurodad.org/debt_story_climate_justice