With Sara Duterte’s filing of candidacy for vice president and her adoption by the Partido Federal as Bongbong Marcos’ running mate in 2022, the merger of the forces of tyranny, dynasty and corruption is complete. (1/6)
The son of a former dictator and daughter of a wanabee dictator are now poised to continue the dark legacies of their fathers. This can only bode ill for the vast majority of Filipinos, many of whom suffered under the corrupt and brutal regimes of their fathers. (2/6)
The team up shows that the Marcoses have now become the primary power brokers in the country, with Duterte now a lameduck president and his daughter relagated to a supporting role. (3/6)
THREAD: My comments on the Chico River Irrigation Pump loan agreement signed between Ambassador Zhaojian Hua, on behalf of the Export-Impot Bank of China, and Department of Finance Secretary Carlos Dominguez III, on behalf of the Philippine Government, on April 10, 2018.
The Loan Agreement is onerous & highly favors China. It sets an annual interest rate of 2% for the Php3.6 Billion loan plus an annual “Commitment Fee” of .3% and a “Management Fee“ of US$ 186,260. China demands that the loan be ‘paid in full without counterclaim or retention.”
The 2% interest rate is exceedingly high compared to loans offered by other countries which only charge .25% per year. China is demanding that payment be automatically included in the General Appropriations Law, practically usurping the powers of Congress.