FDC President Ed Tadem speaks on debt and fiscal justice during a press conference at the Philippine Conference on Illicit Financial Flows, Debt and Tax Justice held at Cocoon Boutique Hotel in Quezon City from 14-15 April 2016. With him are (L-R): Rep. Leah Paquiz of Ang Nars Party-list; Prof. Walden Bello, independent Senatorial candidate; Renato Magtubo of Partido Manggagawa, party-list candidate; Benjo Basas of Ating Guro, party-list candidate; and Lidy Nacpil, FDC Vice-President and Regional Coordinator of the Asian Peoples' Movement on Debt and Development (APMDD). The event was jointly sponsored by FDC and APMDD.
Amidst the global controversy on the Panama Papers on potential illegal financial activities that allegedly implicated Filipino politicians, business moguls and political candidates now running for office, the Freedom from Debt Coalition (FDC) reminded candidates of the adverse impact of the continuing debt dependence of the country and weak taxation policy.
“The Panama Papers shows the rampant illicit financial flows which is a global phenomenon that implicates Filipino politicians and may only be the tip of the iceberg since there are many tax havens and the full disclosure of the Panama Papers will only be done in May,” said Prof. Ed Tadem, FDC president.
Freedom From Debt Coalition
The Freedom from Debt Coalition (FDC) – Philippines is a nationwide multi-sectoral, non-sectarian and pluralist coalition conducting policy advocacy work and campaigns to realize a common framework and agenda for economic development.