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In the Philippines, a Vortex of Climate Change and Debt

2013-12-24 06:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Inter Press Service: Since Typhoon Yolanda made landfall in the Philippines on Nov. 8, the country has sent holders of its debt close to one billion dollars, surpassing, in less than two months, the 800 million dollars the U.N. has asked of international donors to help rebuild the ravaged central region of the archipelago. Even as the Philippines goes hat in hand to wealthier countries seeking disaster relief, it continues to diligently pay creditors in those same countries millions of dollars every day much of it...

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