After super typhoon Haiyan hit the Philippines, nations and charities were praised for their quick response. The United Kingdom offered more than $110 million in grants and humanitarian assistance, and the US promised $90.5 million. They did not offer to cancel debt payments.
In 2014 it is estimated that the Philippines will have to spend $8.8 billion on debt service, almost as much as the $8.99 billion it will spend on infrastructure projects and reconstruction.
Photo: Bust of Ferdinand Marcos, the dictator who embezzled $10 billion. International creditors still collect payments from the people of the Philippines because of their loans to his corrupt regime.