Probably because Ferdinand Marcos (ex-president) robbed the country blind in the 70's and it has never recovered ffffrom its national debt
47,00000000000000000000 billion
Not if you are listening to a lot of the economist at the moment. The US is heavily in debt to the Chinese and they have not yet worked out how to get out of it without having to work for it.
The effects of economic inflow in the Philippines has given this country a false sense of security in the past by eluding to having more money than is readily available. The economic outflow has thrown the Philippines into a state of debt.
During the 1920s, farmers experienced increased debt due to several factors, including rising land prices and the expansion of mechanized farming, which led them to borrow heavily for equipment and land purchases. Additionally, after World War I, agricultural prices fell sharply as demand decreased, making it difficult for farmers to repay loans. This financial strain was exacerbated by overproduction, which further drove down prices. Consequently, many farmers found themselves in a cycle of mounting debt that they struggled to escape.
Her father Ptolemy XIII had borrowed money from Rome. Since he couldn't pay it, when he died, the throne and debt passed on to Cleopatra. So, in order to pay it, she taxed the people heavily and she used many other ways to raise the economy.
60billion is the debt of philippines in the world bank.
Manila in the Philippines .
Both are heavily in debt.
The French and Indian War.
47,00000000000000000000 billion
Prince, Michael Jackson was heavily in debt when he died.
60 billion US Dollars
The states tried to get out of debt by heavily taxing their citizens, thus driving out farmers. They also taxed incoming goods which hurt the trading system.
very long time
I think so. because debt collectors are over the world.
because they were in debt from the war and needed money, so they taxed the colonists.
That's from the Philippines. I believe it's from Eastwest Bank's debt collector or agency.