The World - News from June 15, 1988

Philippine President Corazon Aquino, in an address to the International Labor Organization, called for a fair solution to Third World debt problems that she said threaten to strangle young democracies in developing lands. Aquino told delegates at the annual conference of the 150-member U.N. agency in Geneva that democracy could be strengthened through combatting poverty and underdevelopment as well as by extending rights and liberties. Total foreign debt of developing countries has been estimated at $1 trillion, with the Philippines’ share amounting to about $28.7 billion.