Economists, ex-gov't officials urge Congress to scrap proposed Maharlika wealth fund

ABS-CBN News

Posted at Dec 07 2022 10:08 PM

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Lawmakers pushing for the creation of a Philippine sovereign wealth fund are forced to backtrack on their proposal to get its seed capital from state pension agencies.

Economists and former government officials had opposed the move that is spearheaded by relatives of President Ferdinand Marcos Jr. in Congress.

Critics warn these scheme will only breed corruption. - The World Tonight, ANC, December 7, 2022