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News

  • Senator Miriam Defensor-Santiago said she was offered P300 million to withdraw from the presidential race. Sen. Santiago is faring poorly in what she described as “commercial surveys” intended to turn off potential campaign contributors and force her out of the race. In a speech yesterday, Sen. Santiago said her consistently poor showing in surveys could be part of a conspiracy to ease her out.  “My situation is so difficult. They are trying to pull down my survey standing so I would lose campaign contributors. And if I lose funding, they will ask me to withdraw from the race and give me P300 million as reimbursement for my campaign expenses,” she said. She didn’t name names but she said the offer was coursed through her husband.
  • The upcoming May 9 elections will be more of a driver of the economy than a risk, with current economic policies likely to remain unchanged under the next president, an analyst of Moody’s Investors Service said yesterday.  One way that we see elections is what kind of risks does it pose to policy, and we do put great emphasis on policy predictability. We don’t think any major statements from the main (presidential) candidates indicate radical shift in policy on economic and fiscal management,” Christian de Guzman, senior vice-president of Moody’s Sovereign Risk Group, said yesterday.  He added that their base case is that policy will continue and growth outlook can only be enhanced by the current elections.  The Philippines currently holds a “Baa2” rating -- a notch above minimum investment grade -- with a “stable” outlook from the debt watcher. Moody’s expects growth to clock in at 6% this year. 

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