A World Bank publication in 2017 showed that close to three-fourths of Filipinos borrowed cash from informal sources. Informal sources aren’t easy to police and often get away with charging exorbitant interest and intimidating borrowers when they can’t pay up. This may be why Filipinos get really uncomfortable when talking about borrowing money. I had...
The Philippines has missed a number of opportunities toward long-term economic development. While it was in pretty good shape in the 1960s through the late 1970s—and certainly highly competitive with other developing countries in Asia—it began to falter at the turn of the decade. By the early 1980s it started to miss the boat in...
By Jenn Simons As a hypersocial adult who’s been stuck at home on a reduced income with the possibility of a medical emergency looming, the last few months have felt like practice for retirement life. It really made me think about my retirement savings plan (or lack thereof). If I’m honest, the term “saving for...