Posts Tagged moratorium
YAD Cebu calls for Moratorium on Debt Payments, 6% of GNP to Education
From the weekly column of Atty. Gloria Estenzo-Ramos of the University of Cebu College of Law, Green Forum, and the Integrated Bar of the Philippines- National Environment Action Team (IBP-NEAT), published by Cebu Daily News yesterday.
“Moratorium,” according to Merriam-Webster’s Online Dictionary, means “suspension of an activity.” Recently, Youth Against Debt (YAD) called for a debt moratorium and for government to prioritize funding for education. The 1987 Constitution mandates the State to “assign the highest budgetary priority to education,” yet education spending was only 2.26 of the Gross National Product (GNP) in 2007. This falls below the accepted international standard for financing education, called the UNESCO Delors Benchmark, which set the education expenditure of developing countries at six percent of the GNP.
Add comment June 17, 2008
Group wants debt moratorium, 6% GNP education spending
From GMANews.TV news: Group wants debt moratorium, 6% GNP education spending
MANILA, Philippines – With one week to go before classes start, militant anti-debt youths demanded that President Gloria Macapagal Arroyo follow the United Nations’ benchmark to spend six percent of gross national product on education.
The Youth Against Debt (YAD) also reiterated the call for a moratorium on paying “illegitimate” debts, instead of having President Arroyo calling for a freeze in tuition hikes.
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2 comments June 8, 2008
