Why not borrow money to ‘jumpstart’ economy after lockdown, Pernia suggests

MANILA—The Philippines needs to borrow money if it hopes to “jumpstart” its economy after the lockdown in Luzon is lifted, a former government official said Saturday.

Pernia explained that applying for a loan is vital to get the economy rolling again if and when the lockdown ends. The Philippines earlier secured a $500-million loan from the World Bank to boost its anti-coronavirus war chest. Luzon, home to half of the country's 100 million people, was locked down on March 17 and the quarantine is scheduled to last until April 30.

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