Let’s just hope this money actually does us some good.
“On Wednesday, Feb 12, the Presidential Commission on Good Government (PCGG) announced that an estimated US$29 million, previously stored in secret Swiss accounts kept by the late President Ferdinand Marcos and family members has been returned to the Philippine government,” reports ANC.
That translates to PHP1.3 billion.
According to the report, “The funds—which were originally denominated in two currencies including the British pound—were transferred to the national treasury after the PCGG, on the strength of Philippine, Swiss, and Singaporean court decisions, engaged in talks with several financial institutions to recover the Marcoses’ ill-gotten wealth.”
Photo from MorgueFile
