Maharlika Fund needed, economic managers say

THE Maharlika Investment Fund (MIF) "is not only beneficial but necessary," the country's economic managers insisted on Tuesday.

Amid continued concerns over the need for a sovereign wealth fund, the chiefs of the Department of Budget and Management, Department of Finance, National Economic and Development Authority and the Bangko Sentral ng Pilipinas (BSP) issued a joint statement reaffirming their support for the measure.