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Yes, in fact, this is true and the Philippines does not have a representative of their country in the rank of the holder of the boxing champion belt here you can see the current list of current world champions as of December 2022 https://champinon.info/
It was supposed to be Casimero who still hold a belt, unfortunately, because of his carelessness, he lose his belt via disqualification. Last time I remember, Nietes and Magsayo both losses their belt before Casimero losses his, so for now, we have no boxer that is currently a champion. No boxer in the PH that has an achievement close to Pacman, sorry to say that, but that's the reality.
The Philippines has zero world champions at the moment since Nonito Donaire, Johnreil Casimero, Rene Mark Cuarto and Mark Magsayo lost their belts this year. But there are title fights coming up for Filipinos and hopefully, upsets happen. I agree with Oasisman's statement earlier saying the lack of support is a huge factor. Many prospects are forced to travel to opponents' backyards and lost to questionable hometown decisions.
Champinon.info is new to me. And looking at their list, the Philippines has a world champion, Dave Apolinario. Unfortunately, the IBO belt is not a major belt. Many times the IBO has popular champions like GGG and Usyk because they just award their belts in order to promote their organization.
I think there is one that I read that become a champion but yeah, it's not a major belt so this is not considered per se as champion for the Philippines.
And I guess we can't really rely on the numbers for now, there could be years wherein the Philippines is really enjoying like when Manny is hovering the flags for the Philippines as there are many who follow on his footsteps.
But when he retired, boxing seems to be looking for a new champion that will carry the flag again for the country.