The Collapse of the Sugar Industry in Negros Occidental and Its Social and Economic Consequences

Abstract

The paper will discuss what economic recovery means and why economic recovery cannot be attained based on the features of these restructuring agreements. It also sees important to discuss the stance that the country must take with regard its foreign creditors. The government can only determine the Philippine position and not the overall outcome. It should not internalize the interest of foreign creditors. The strategy on the foreign debt primarily involves a political decision, not a technical one. The negotiating stance implemented by the Aquino government has been meant to bring about these three positive developments. New foreign lending would restart in a few months. Foreign investment would begin to flow into the country in sufficiently large amounts. The country’s net exports would increase by leaps and bounds.