Diokno assures no recession if MIF fails READ MORE:
down the Philippine economy even if it fails, Senate President Juan Miguel Zubiri said in a media briefing Tuesday.
Diokno made the assurance after Senator Robinhood Padilla asked if the economy would collapse if the MIF fails.ADVERTISEMENT “Senator Mark Villar needs a good strategy in explaining this not only at the committee level but also in the plenary to be able to get 13 votes,” Zubiri said. “What they told us was ‘it is up to you Mr. Senator… because you will be doing the final version of the bill. So, if it needs to have more safeguards, put some in,” he said.
The proposed MIF will be used to invest on a strategic and commercial basis in a manner designed to promote fiscal stability for economic development and strengthen the top-performing GFIs through additional investment platforms that will help attain the national government’s priority plans, the bill states.
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