As the battle shifts to the Senate after the House of Representatives overwhelmingly approved the bill creating the Maharlika Investment Fund (MIF), a former official of the Bangko Sentral ng Pilipinas (BSP) has called on the public to amplify its objections to the measure. Diwa Guinigundo, BSP deputy governor until 2019, said that while the...
Author: Juan V. Sarmiento Jr. (Juan V. Sarmiento Jr.)
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‘Maharlika Wealth Fund’ is uniting Filipinos in resisting it
The cost of administering the Maharlika Investments Fund (MIF), the Philippines’ sovereign wealth fund to be established should the bill seeking its creation be passed into law, is alarming many Filipinos. Its ability to generate the “consistent and stable investment returns” that its proponents tout is also raising loud questions. One wonders how the Fund...