Follow us on SpotifyThe current version of House Bill No. 6608, or the bill seeking to establish the Maharlika Investment Fund , still raises red flags, says Enrico P. Villanueva, a chief risk consultant and a senior lecturer of economics at the University of the Philippines Los Baños.reporter Keisha B. Ta-asan that the MIF will weaken the Bangko Sentral ng Pilipinas and other government banks.
But following criticism and public pressure, proponents took out the pension funds. The MIF will now be funded by resources from the Landbank of the Philippines, the Development Bank of the Philippines, and the dividends/profits of the Bangko Sentral ng Pilipinas . “Here, we are subjecting this forced contribution from the government banks and in the process, we’re making them weaker. We should make these banks stronger, not weaker,” he added.
“We don’t even know if it would actually pursue development the way it said it would be. So that’s a big question mark,” he added.Mr. Villanueva recounted that when former President Ferdinand E. Marcos, Sr., left the country in 1986, the old central bank was bankrupt and loaded with debt. “That’s why, when there was this talk about getting the reserves or asking the BSP to contribute, that’s a red flag again because that’s a violation in the charter,” he said.
Whenever a professor presents an opinion. Ask first why is he NOT employed in the private sector Those who cannot get a job teach.
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More red flags raised by the Maharlika Investment FundListen to this episode from BusinessWorld B-Side on Spotify. The current version of House Bill (HB) No. 6608, or the bill seeking to establish the Maharlika Investment Fund (MIF), still raises red flags, says Enrico P. Villanueva, a chief risk consultant and a senior lecturer of economics at the University of the Philippines Los Baños. In this B-Side episode, he tells BusinessWorld reporter Keisha B. Ta-asan that the MIF will weaken the Bangko Sentral ng Pilipinas (BSP) and other government banks. “BSP is not supposed to dabble in private enterprises … BSP cannot invest in development financing,” Mr. Villanueva says, adding that the MIF resurrects the ghost of what happened to the Central Bank, which had to be dissolved after being bankrupted. “Haven’t we learned from the experience?” Recorded remotely in December 2022. Produced by Joseph Emmanuel L. Garcia and Sam L. Marcelo. EnricoPatiga Thank you for being a voice ! Better to scrutinise than be sorry jcpunongbayan Dapat lang scrutinize yan ng lahat - taong bayan, scholars, experts, government, consultants The whole Marcos administration is a red flag. 😂😂😂
Source: bworldph - 🏆 9. / 68 Read more »
MAHARLIKA INVESTMENTOUR EDITORIAL CARTOON: MAHARLIKA INVESTMENT What happened to Duterte’s plan to change the nation’s name to Maharlika?
Source: TheManilaTimes - 🏆 2. / 92 Read more »
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Source: bworldph - 🏆 9. / 68 Read more »
Pimentel flags 'contradictions' in Maharlika Fund bill amid Marcos' plan to tackle it at DavosSenate Minority Leader Aquilino "Koko" Pimentel III on Monday flagged "internal contradictions" in the bill creating the Maharlika Investment Fund amid President Ferdinand "Bongbong" Marcos Jr.&39;s plan to tackle it at the World Economic Forum scheduled from January 16 to 20 in Davos, Switzerland.
Source: gmanews - 🏆 11. / 68 Read more »
Pimentel slams Marcos plan to take up 'Maharlika Fund' at WEF meetSenate Minority Leader Aquilino Pimentel III on Sunday criticized President Ferdinand Marcos Jr.&39;s plan to present the proposed sovereign wealth fund at the World Economic Forum (WEF) meet in Davos, Switzerland this week. alibi nya lang yan para makalibre uli ng trip abroad. 😼 what will happen to Wealth fund if the world hits RECESSION it will destroy the country's economy Why? When this needs foreign capitalization!
Source: gmanews - 🏆 11. / 68 Read more »
Marcos says Maharlika fund to invest in agri, energy, digitalization, climate changePresident Ferdinand "Bongbong" Marcos Jr. on Monday said the proposed Maharlika wealth fund will make investments in the basic areas of agriculture, energy, digitalization and climate change. Rey Valera.... Maharlika basta't maharlika Iniisip nila ay hindi mahalaga Maharlika maging Sinuka ka man.... We are in the end times. What's the use of spending in climate. No one can do anything on climate. It is God's business. Import more pork and onions. Boy magic
Source: gmanews - 🏆 11. / 68 Read more »