Sovereign wealth fund proposal should be scrapped

By The Editorial Board

Dec 03, 2022 12:09 am

THE recent bill jointly filed by House Speaker Martin Romualdez and Rep. Ferdinand 'Sandro' Marcos 3rd to create a sovereign wealth fund for the Philippines is an interesting enough idea, and perhaps there would be some instructional value in studying it. However, with the rather checkered history of sovereign wealth funds in general, controversies surrounding large-scale funds in the Philippines in particular, and our unfortunate record of persistent corruption, the proposal should be shelved.

(Left) Speaker Ferdinand Martin Romualdez and Ilocos Norte First District Rep. Ferdinand Alexander Sandro Marcos 3rd.

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