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Estimates of the alleged ill-gotten wealth of the Marcos family vary, [17] [18] with most sources accepting a figure of about US$5 billion–10 billion for wealth acquired in the last years of the Marcos administration, [1] [19] but with rough extreme estimates of wealth acquired since the 1950s going as high as US$30 billion.
Marcos’ debt fueled spending, which had grown significantly during the first few years after the declaration of martial law, had funded projects which did not produce economic returns. Some of these projects were simply not yet needed at the time, while some were showcase projects which did not address the more urgent need for basic primary ...
The Marcos administration's spending had relied heavily on debt since Marcos's first term in the 60s. This left the Philippines vulnerable when high inflation caused the US to raise interest rates from 1980 to 1982, which caused US recessions in 1980 and again in the 3rd quarter of 1981.
The country's total external debt rose from US$2.3 billion in 1970 to US$26.2 billion in 1985. Marcos' critics charged that policies have become debt-driven, along with corruption and plunder of public funds by Marcos and his cronies. This held the country under a debt-servicing crisis which is expected to be fixed by only 2025.
Marcos spent $50 million worth in debt-funded infrastructure, triggering a balance of payments crisis. [12] The Marcos administration ran to the International Monetary Fund (IMF) for help, and the IMF offered a debt restructuring deal. New policies, including a greater emphasis on exports and the relaxation of controls of the peso, were put in ...
During the campaign, Marcos had spent $50 Million Dollars worth in debt-funded infrastructure, triggering the 1969 Philippine balance of payments crisis. [13] The Marcos administration ran to the International Monetary Fund (IMF) for help, and the IMF offered a debt restructuring deal. New policies, including a greater emphasis on exports and ...
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Marcos was reported to have spent PhP 100 for every PhP 1 that Osmena spent, using up PhP 24 Million in Cebu alone. [35] By the following year, however, the government would be unable to pay its debts, and would decide to enter into a debt rescheduling arrangement plan with the International Monetary Fund. The stabilization plan involved in the ...