Quantcast
Latest Stories

Aquino government’s $1-B loan to IMF mere ‘pogi points’—Archbishop Cruz

By

Archbishop Emeritus Oscar Cruz INQUIRER FILE PHOTO

MANILA, Philippines –The government’s decision to lend $1 billion to the International Monetary Fund (IMF) was just so it could get “pogi points,” Retired Archbishop Oscar Cruz said Thursday.

In an interview with Radyo Inquirer 990AM, Cruz said the country already has $70 billion in external debt and was “lacking in infrastructure and lacking in livelihood programs.”

“And yet we will give a loan,” Cruz said. “There can be no other reason but to get pogi points.”

He said that it was not wrong to lend money but the country was already putting so much of its budget for external debt payments.

“Are we so rich that we have run out of places where we can put our money in this country?” Cruz asked.

He also wondered if this was just preparation for the upcoming State of the Nation Address of President Benigno Aquino III.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Short URL: http://business.inquirer.net/?p=67875

Tags: $1 billion loan , Aquino government , Archbishop Oscar Cruz , IMF , International Monetary Fund , loan

  • http://twitter.com/TUBAGBOHOLcom TUBAGBOHOL.com

    The church wants the Filipinos to be poor and ignorant so they can always be manipulated.

  • http://www.facebook.com/lezah.hazel.9 Lezah Hazel

    walang galang na po Archbishop Oscar Cruz….
    .intead n magcritize k ……and magpamedia k p….to know
    your commments about this matter
    Bakit hindi na lang natin ipanalangin ang ating bansa…
    and according to the bible..
    Romans 15:13
    “For the reason we should stop judging each other. We must make up our minds not to do anything that will make up our minds to do anything that will make another Christian sin”

    this is the right time na tayo naman ang magpapahiram to other nations, not need to borrow from other nation….hindi tayo palaging manghihiram….

    From books of Deuteronomy 28:13
    “The Lord will make you like a head and not the Tail; you will be a top and not the bottom. But you must obey the command of the Lord your God that I am giving you today, being careful to keep them.

    I think, if you know this hindi mo masasabi ang mga ganyan…kumento!
    We need to see the Positive side, not negative side.

  • Diablo_III

    Ngeeks isa pa itong padre na ito na tirador ng malambot na tete..

  • alice_in_chains

    Damaso. Ang dami mong alam. Sana nag politko ka na lang. Kaunti na lang, lilipat na ako ng sekta dahil sa mga katulad mo.

  • ampei

    May I suggest that retired Archbishop Cruz remain what he is – retired. His tirades are tiring to say the least. He thinks it’s all going for pogi points? Why doesn’t he go for some himself – convince the Vatican to allow the sale of church properties and lands to give to the poor!

    He might say he doesn’t need pogi points, because it is of no use to him. Well, true. He is old and women won’t go for him. He has taken the vow of poverty, so we presume he is not rich. And even if he would be given papal dispensation to get married, he would be violating the sourest interpretation of marriage. which is to pro-create. And if he is able to convince a young woman to bear his child, chances are they would not be “normal.” Like their father.

  • http://www.facebook.com/people/Yu-Wang/100001458391952 Yu Wang

    Ricky C, sabihan mo nga mga bata mo na hinay hinay lang muna sa mga issued-MacBook nila. Pag nasira ang mga keyboard nyan, pera na naman ng gobyerno ang gagamitin para sa procurement!

  • katindig

    Cruz, i won’t call you bishop….i believe you don’t deserve to be called one….Basahin mo yung Charter ng BSP…(napansin nyo Cruz di ako nanggamit ng “po”…buti pa nga Capitalize yung C ng name nyo. Mataas naman pinagaralan nyo…nasa batas at constitution…not even the president neither the senate nor the congress can touch RESERVE MONEY, yung 1 Billion na ipapahiram pa lang ay RESERVE MONEY…ang reserve money ay pang investment para may return of investment in terms of interest or gain. Di pwedeng pang gamit sa budget kasi etong pera ay di kasali sa budget. Kung ang perang reserve ay gamitin sa project gaya ng hospitals, pabahay. roads etc. etc. mawala na ang value ng pera kasi ang reserve yun nagbibigay ng value ng pera …oo masaya mga tao dahil maraming projects pero kung walang reserve walang value ang pera kung walang value ang pera walang mabili. Bago kayo magdakdak Cruz basahin nyo muna yung charter ng BSP…at BSP board din ang magdesisyon kung saan iinvest ang pera. Isa pa pag i[ahiram sa IMF ang pera ipapahiram din sa mga Bayan gaya ng Europe particularly Greece…maraming OFWs sa Greece…kung tumulong tayo sa Greece tumulong din tayo sa mga OFWs natin. Umuutang din tayo ng pera sa IMF nuong araw…kung nagpautang tayo parang we are paying it forward with goodwill….Masama ba ang magpautang kung ang kapitabahay mo ay naghihirap…kung minsan nagdududa ako kung alagad ka ng Diyos…di ba sabi sa ni Jesu Christo…”Whatever you do to the least of my Bretheren, you do it for Me”.



Copyright © 2013, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement

News

  • Elite NYC school apologizes for past abuse
  • 3 survive US bridge collapse; New span sought
  • NKorean envoy delivers letter to China’s president
  • 10 dead as military, Abu Sayyaf clash in Sulu
  • Arellano Felix drug cartel leader pleads guilty
  • Sports

  • Fever top Silver Stars to open WNBA title defense
  • Monty says Garcia controversy has gone too far
  • Tigers, Falcons score; Blazers stun Tams
  • GM Paragua shares Asian chess top spot with Li
  • Dazed Beermen try to get back at Thais today
  • Lifestyle

  • Ninoy Aquino’s birthday is ‘Day of Reading’
  • You can’t sink in the Dead Sea
  • In New York, Filipino costume and set designer Clint Ramos wins Obie Award
  • Josh Bowman steps into a new role
  • Fashion, fame and Daniel Grayson
  • Entertainment

  • Stone Temple Pilots sue ex-frontman Scott Weiland
  • Cannes: Dern a leading man again in ‘Nebraska’
  • Demi Lovato is a work in progress
  • Stars’ ‘shameful’ secrets revealed
  • Penchant for loopy and messy details
  • Business

  • Court of Appeals stops field trials of genetically modified eggplant
  • GDP on track to meet 6-7% target
  • Stocks continue to decline
  • BSP chief says capital flight to spare PH
  • Imports contracted in Q1
  • Technology

  • Statement of Smart Communications
  • Yahoo takes big leap with $1.1B deal for Tumblr
  • Poll: More US teens turn to Twitter; Facebook old
  • Tips to avoid becoming an identity theft victim
  • Filipinos in flight want to go online
  • Opinion

  • Brillantes’ tantrums
  • Pointed questions for the Comelec chair
  • Social enterprise as innovative business model
  • Perennial irony
  • Voters like election surveys
  • Global Nation

  • Seamen may file complaints at sea
  • Rescue of Russian mountaineer from Mt. Mayon proved costly
  • PCG report on grounded US ship due
  • Fil-Am staffers and students join UC Medical Center strike frontline
  • Kids make art to help rescue other kids from neglect
  • Marketplace
    Advertisement
    © Copyright 1997-2013 INQUIRER.net | All Rights Reserved
    skinner left
    skinner right