FORMER Bangko Sentral ng Pilipinas deputy governor Diwa Guinigundo today warned Filipinos that the country’s economy could collapse should Ferdinand “Bongbong” Marcos, Jr. win in the May 2022 elections.
According to Guinigundo, the country’s next president will inherit a number of problems, foremost of which is the Philippines’ outstanding debt of 12 trillion pesos that the Duterte administration has amassed in the midst of the COVID-19 pandemic.
He added that Marcos, Jr. has no clear economic plans for the country should he become the next President.
“Marcos, Jr. has no plans to attend presidential fora or debates that are being organized by media and different organizations. He is scared to be asked about the many issues surrounding him and his family,” Gunigundo said.
“These debates and fora are important so that voters can choose intelligently among the candidates,” he added.
Bongbong Marcos, Jr. is the son of the late dictator Ferdinand Marcos, Sr., who left the country bankrupt in his 20-year reign as a despot.
Gunigundo believes that Marcos, Jr. will have a hard time explaining his family’s excesses during the martial law years.
“He would have difficulties explaining his family’s vast wealth,” the former BSP governor said.
Gunigundo added that all these have been ruled upon by the Supreme Court as ill-gotten from the country’s coffers.
Gunigundo highly doubts Marcos, Jr.’s capacity to lead, especially at a time when the country is faced with a myriad of problems brought about by the pandemic and debts amassed by the Duterte administration.
“In all his years as vice governor, governor, congressman and senator representing the people of Ilocos Norte, his province remains far behind other progressive provinces such as Cebu, Laguna, Batangas and Cavite,” Gunigundo mused. “He cannot even improve the lives of his constituents, what more the whole country?”
Gunigundo adds: “Marcos, Jr. has yet to bare his plans in solving the government’s huge fiscal deficit, addressing the mounting debt of the country, and details of a fiscal consolidation plan that could inspire confidence in foreign and local businesses that the Philippine government will not go bankrupt.”
