Manila, April 2 -- Finance Secretary Carlos Dominguez III said some sectors that continue to raise the false specter of the Philippines defaulting on its concessional loans to China have no faith in their own country.
Dominguez said in a statement on Tuesday that fears of the Philippines defaulting on any of its loans are unfounded, given that the government has never failed to pay its debts even during the worst of times.
"The Philippines has never, never defaulted on its loans. The Philippines has not done it even in the worst time and the worst time was right after Marcos," Dominguez said in an interview with reporters.
He said that even when the Philippines was cash-strapped, it had never defaulted on any of its loans, recalling that...