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Political unrest in the Philippines, sparked by the arrest of former President Rodrigo Duterte and the impeachment of Vice President Sara Duterte, may hinder the passage of crucial financial reforms. ING Bank warns that legislative focus could shift away from proposed tax cuts and mining tax overhauls as the midterm elections approach, intensifying political uncertainty. Despite this, the bank does not foresee significant impacts on macroeconomic stability, citing expectations of controlled inflation and fiscal deficits.
Impeachment prosecutors in the House of Representatives plan to subpoena Vice President Sara Duterte's bank records to strengthen their case against her, which includes allegations of constitutional violations and misuse of public funds. The trial is expected to commence after President Marcos' State of the Nation Address on July 21, with preparations already underway despite Congress being in recess. Senate President Francis Escudero clarified that the impeachment process can continue with the new Congress, and if Duterte resigns, the Senate will decide whether to dismiss the case or impose disqualification from public office.
Rodrigo Duterte
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political unrest may hinder financial reforms in the philippines
03:03 18.03.2025
impeachment prosecutors plan to subpoena vice president's financial records for trial
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06:55 11.02.2025
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