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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.
Prosecutors in the House of Representatives are preparing to request subpoenas for Vice President Sara Duterte's bank records to bolster the impeachment case against her. The impeachment, supported by over 200 lawmakers, alleges she committed a culpable violation of the Constitution and betrayal of public trust by amassing unexplained wealth. The Senate will conduct the trial once Congress resumes in June, and prosecutors are actively gathering evidence during the recess.
Sara Duterte
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political unrest may hinder financial reforms in the philippines
03:03 18.03.2025
prosecutors prepare to subpoena bank records in vice president impeachment case
17:16 10.02.2025
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