Philippines Gets White in OECD List

The Organization for Economic Cooperation and Development (OECD) placed the Philippines in its "white list" as Department of Finance passed regulations allowing a swap of bank information between counterpart banks in keeping with the international convention on tax standards. Countries in the list are those who have substantially implemented these tax standards. Based in Parish, France, OECD was founded in 1961, and currently has 33 member countries, which the country is still not among them. Among Asian countries, only Japan and Korea so far qualified for membership. [Related Reports: Agence France-Presse: "Philippine targets cheats' offshore bank accounts," msn News 30 September 2010]  

Philippines Receives MCC $434-M Grant

On 24 September 2010 (Friday), Philippine Finance Secretary Cesar Purisima and MCC CEO Daniel Yohannes signed the $434 million Republic of the Philippines-Millenium Challenge Corporation (GRP-MCC) Compact at the Waldorf Astoria Hotel. PNoy renewed his commitment against corruption and US Secretary of State Hillary Clinton praised Filipino hardwork and bounced off the sentiments of Filipinos working in the US against the control of Filipino "elite in business and politics that basically call the shots," providing "not much room for someone who's hardworking, but not connected." (See Worldwide Recognitions page.) 

Truth Commission Begins Mandate

The Philippine Truth Commission, chaired by retured SC Chief Justice Hilario Davide Jr. will proceed to follow their appointed mission on Wednesday, 15 September 2010, despite ongoing debate in the Supreme Court for PTC's constitutionality. [Source: Edu Punay, Aurea Calica, Jose Rodel Clapano, Delon Porcalla: "Supreme Court asks Palace to hold implementation of EO 1" The Philippine Star 14 September 2010] 

Philippine GOCCs Has Huge Share of the National Debt

The Senate Development Budget Coordinating Committee took a dose of shock on 13 September 2010 when it learned that 43 percent of the Philippine national debt came from the Government Owned and Controlled Corporations. Known for their "very generous" pay and incentives, that could come as no surprise, after all. [See GOCCs/GFIs page for details.]

GOCC: PSALM Failed to Use Sold Assets for Napocor Debt Payment

The House Committee on Appropriations uncovered that the Power Sector Assets and Liabilities Management Corporation (PSALM), the GOCC tasked in to undertake the privatization of the Napocor assets and pay off its debts, paid only a total of $4 billion, despite $10.65 billion privatizaton proceeds, loans of $2.2 billion in 2009, and P30 billion loan in 2010. [See GOC Corporation/GF Institutions page for details.]

Philippines Cofounds International Anti-Corruption Academy

On 2 September 2010, Ambassador (to Austria and to the International Organizations in Vienna) Lourdes Yparraguirre signed the agreement that to create the first international anti-corruption institution, the International Anti-Corruption Academy. The IACA will be based in Laxenburg in Lower Austria. Its launching happened the following day in Vienna. It will offer programs tailored for policy makers and professionals. [Source: Pia Lee-Brago: "RP becomes founding member of first International Anti-Corruption Academy," The Philippine Star 12 September 2010]

Arroyo's P447 Million in Donation Spree

Former President Gloria Macapagal-Arroyo spent P447 million in donations to 13 foundations and non-government organizations, resulting to P594 million in unliquidated cash advances in 2009 alone. Her government was writing checks for private organizations using government funds, instead of channelling these financial resources in related government programs. [See Executive Abuses page]