If anything, the pandemic has taught us that digitalization is no longer desirable to have, but a must-have. Like other ASEAN nations, the Philippines aims to regain and surpass opportunities lost to the COVID crisis. We want an economy that is stronger and more technologically advanced than ever before. One way of achieving this is through financial digitalization.
•  Therefore, in view of the existing favourable debt servicing arrangements, the stock of debt need not pose such a big concern, conditional on there being a credible commitment to the reform program that will be agreed with our EU partners. •  Of course, the timeline of the schedule of the debt’s repayments and interest payments may pose challenges in future years.