For House Deputy Speaker and Pampanga 2nd district Rep. Gloria Macapaga-Arroyo, Republic Act (RA) No.11954 or the newly-signed Maharlika Investment Fund (MIF) is a 'very good bill.' | ManilaBulletin READ:
"There are many, many sovereign funds in the world and that’s what the President said," noted Arroyo, 74, a holder of a Bachelor of Arts degree in Economics and a magna culture laude from Assumption College San Lorenzo.
"They looked at the different models, they looked [at] achievements, they looked at the mistakes," she said. "So this is a very good bill and now, like all sovereign funds, the key will be in the management and implementation," Arroyo added. The MIF seeks to create a new revenue stream for the country by tapping investible funds for investments either here or abroad. The profits from these investments will be used to bankroll big-ticket projects.
One of the most common criticisms on the MIF has been its timing: Can the Philippines afford to put up the capital needed for the fund despite its P13.91-trillion outstanding debt?
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