Palace assures no economic impact on loan, deal suspension
Aileen Cerrudo • September 23, 2019 • 112
Malacañang assured that the loan and deal suspension ordered by President Rodrigo Duterte will have no impact on the country’s economy.
Presidential Spokesperson Salvador Panelo said out of the 18 countries involved in the said suspension, only the United Kingdom has an offer of 21 million euro loan for the president’s Build, Build, Build program.
Panelo also assured there will be other countries and trade institutions that can replace the involved countries.
“It will not dramatically, even slightly I think, impact our economy,” he said. “There are other bilateral partners and institutions, and other countries outside of the 18 offering the same, and no better rates than these countries.”
The chief executive has signed a confidential memorandum suspending loan and negotiations with the 18 countries that backed the Iceland resolution.
Iceland called for an investigation into the Duterte Administration’s anti-drug campaign.
Panelo also said this policy will last until the end of Duterte’s term.—AAC (with reports from Rosalie Coz)
MANILA, Philippines – Malacañang said it will abide by whatever the decision of the Supreme Court (SC) regarding the electoral protest filed by former Senator Bongbong Marcos against Vice President Leni Robredo.
“Whatever the decision of the court, we should abide by it,” noted Presidential Spokesperson Salvador Panelo.
In 2016, Marcos accused Robredo of “massive cheating” in the 2016 elections.
He lost to Robredo by some 260,000 votes, but Robredo’s camp said her lead over Marcos grew by 15,000 votes after the initial recount.
On Tuesday (October 14), the PET ordered the release of a report on the initial recount of votes.
“Hayaan ninyo na sila (Let them be). We’ll just wait and let the parties argue their case in court and PET will have to render its decision,” he added. – MNP (with reports from Rosalie Coz)
In boxing, Nesthy Petecio won the gold medal in the 2019 AIBA Women’s Boxing World Championships in Ulan-Ude, Russia on Sunday (October 13).
Meanwhile, Eumir Marcial won silver in the 2019 AIBA World Boxing Championships last September.
“Isa lang ibig sabihin noon, magaling tayo kahit na every now and then (It only means one thing, that we are great—even if it’s just every now and then),” Panelo said.—AAC (with reports from Rosalie Coz)
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