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'Hindi na natuto': Aquino rebukes Philippines’ new loans from China

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Adrian Ayalin, ABS-CBN News

<p>CEBU - Former President Benigno Aquino III has warned the government about China-offered loans, saying Philippines should have learned from the past.</p><p>“Hindi na tayo natuto sa Northrail. Hindi ba pwedeng maawa tayo sa sarili natin?” Aquino told reporters on the sidelines of an Otso Diretso forum in Cebu City,</p><p>(Haven&#x27;t&#x27; we learned our lesson with Northrail [project]? Can&#x27;t we have pity on ourselves?)</p><p>The North Rail project had originally been launched under former president Gloria Macapagal-Arroyo&#x27;s term with a $400-million Chinese state loan in 2004, but she later cancelled the project amid allegations her aides took kickbacks to get it started.</p><p>The 80-kilometer (50-mile) North Rail project would supposedly allow the country&#x27;s main aviation gateway to be moved out of congested central Manila.</p><figure class="op-interactive"><div id="IVS_ABS_Body_Video_1_Container"> <ivs-player id="IVS_ABS_Body_Video_1" data-ivs-spid="3001339" data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-vid="1387896" data-ivs-floating="1"></ivs-player> <script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/iframe-parent.js"></script> <script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script> </div></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>Aquino&#x27;s statement came amid Supreme Court Associate Justice Antonio <a href="https://news.abs-cbn.com/news/03/23/19/carpio-china-could-seize-gas-in-reed-bank-if-ph-unable-to-pay-loan">Carpio&#x27;s </a>warning over the weekend that Beijing could seize oil and gas-rich Philippine assets in the South China Sea if the country reneged on payment for a new $62 million loan.</p><p>The loan agreement was signed by the government with China on April 10, 2018 but critics have warned of the allegedly onerous deal.</p><p>While in Cebu City, Aquino, campaigning for the candidates of Otso Diretso, said opposition candidates may be the “solution” to issues such as controversial Chinese loans.</p><p>The former president said the Otso Diretso, Romy Macalintal, Gary Alejano, Erin Tanada, Pilo Hilbay, Samira Gutoc, Mar Roxas, Bam Aquino, and Chel Diokno, are a better alternative, despite their dismal pre-election survey performance.</p><p>“Kung di ka na happy, magbibigay tayo ng solusyon. Sa akin, ang Otso Diretso, bahagi ng solusyon,” Aquino said. </p><p>(If you are no longer happy, let&#x27;s find solutions. For me, Otso Diretso offers just that.)</p>

<p>Former President Benigno Aquino III has warned the government about China-offered loans, saying Philippines should have learned from the past.</p>

Former President Benigno Aquino III has warned the government about China-offered loans, saying Philippines should have learned from the past.

'Hindi na natuto': Aquino rebukes Philippines’ new loans from China

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'Hindi na natuto': Aquino rebukes Philippines’ new loans from China

Adrian Ayalin,

ABS-CBN News

Published Mar 26, 2019 08:01 PM PHT

|

Updated Mar 27, 2019 05:24 AM PHT

Read More:

Halalan 2019

Otso Diretso

Noynoy Aquino

Benigno Aquino III

China

loans

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