If not for more foreign loans, where else can the government turn to for huge funds needed in its fight against COVID-19 and to mend the country’s battered economy?
Unknown to many, overseas Filipinos (OFs) hold a strategically vital key.
How so? Fairly simple, easy – but highly innovative.
The government should simply design high-interest bearing retail bonds or savings program and market this investment instrument intelligently and aggressively to OFs – and voila! P500 million to P1 billion can easily be raised in just a matter of months for use in fighting COVID-19 and funding the recovery of the country’s badly battered economy!
Sleight of hand? Or the latest scam?
Of course not. Let’s start with some basic facts. In 2020, overseas Filipinos or OFs sent home US$33.2 billion, according to Bangko Sentral ng Pilipinas data. There are over 10.2 million OFs spread across more than 200 countries and…