TRUST in the Bangko Sentral ng Pilipinas (BSP) and its effectiveness as a regulator will be put at risk if the government pushes through with its plan to establish a sovereign wealth fund, economists and businessmen said.
In a January 26 private statement that was released on Wednesday during Senate deliberations, the Foundation for Economic Freedom, Management Association of the Philippines and the UP School of Economics Alumni Association said the proposed Maharlika Investment Fund (MIF) was "highly questionable as a strategy to achieve the government's stated objectives" of promoting infrastructure development and economic growth.
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