In a speech at the Malacañang Palace yesterday, Philippine President Rodrigo Duterte said that the Marcos family is willing to return part of their illegally amassed wealth to the Philippine government.
That wealth, estimated at USD5-10 billion (approx. PHP256-512 billion), was accumulated during dictator Ferdinand Marcos’ two decades in power.
Duterte learned about the plan through a meeting with a spokesperson that represents the Marcos family.
“The Marcoses, I will not name the spokesman, they said they will open everything and probably return what was found,” Duterte said.
The president also said that the Marcoses are considering this to help with the country’s projected budget deficit for the year. “[The spokesperson] said it might help.”
He noted that the amount of wealth the Marcos family plans to give is not big but they are considering returning “a few gold bars.”
According to Duterte, the Marcos family maintain that they are in possession of the wealth because President Ferdinand Marcos was trying to protect the country’s economy should he be exiled. They said that Marcos planned to return the money after returning to the seat of government.
To this Duterte commented, “I will accept the explanation. Whether or not it is true.”
Duterte said that the Marcos family will give him an accounting of everything that will be returned and that he plans to appoint three people, including a former chief justice and a CPA, to oversee the process.
Members of the Marcos family have thus far said nothing publicly about Duterte’s statements.
