January 31, 2023 | 12:32 amTHE PHILIPPINES could benefitits first sovereign wealth fund is independent and effiHowever, the think tank also warned of political risks arising from the use of existing government funds for the MIF.
President Ferdinand R. Marcos, Jr. earlier this month pitched still-unapproved MIF to business leaders at the World Economic Forum in Davos, Switzerland. The Milken Institute said the Philippine government may not be able to tap into foreign reserves due to International Monetary Fund accounting rules that prevent their domestic use.
“In the Philippines’ case, of 108 GOCCs, from insurance and financing to charity work and gaming, the top 31 GOCCs hold assets worth $323 billion, representing half of gross domestic product,” the Milken Institute said.
When the lead administrator of that scam fund is from a family already known the world over for their thievery, you know it wont work.
Magkano kaya binayad sa Think Toink na 'to?
It will be a hot political issue and will be hard to be independent, not with that name on it that is highly political in nature.
Coming from an institute established by a convicted felon, that’s not a great endorsement.
The thing is, the conjured SWF is neither independent nor efficient, and there is no serious effort to make it so.
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