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House body set to reopen PEACe bonds probe 10/20/2011

Thursday, October 20, 2011

House body set to reopen PEACe bonds probe

A committee of the House of Representatives is set to reopen its investigation into the controversial P10-billion Poverty Eradication and Alleviation Certificate (PEACe) bonds that was engineered by Caucus of Development NGO Networks (Code-NGO), a group formerly headed by Social Welfare Sec-retary Corazon “Dinky” Soliman, which floated the zero-coupon bonds in a bid to determine those responsible for the loans extended to the government in 2001.

Iloilo Rep. Jerry Treñas, chairman of the House committee on good government and public accountability, yesterday said the panel will resume its hearing on the controversy when Congress resumes sessions on Nov. 14.

Trenas explained that the reopening of the inquiry was an offshoot of the request made by the Freedom from Debt Coalition (FDC) which complained the huge obligations that the government will be paying for the maturing bonds..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20111020hed3.html

1 comment

Jesusa Bernardo said...

sasabihin n'yo walang problema ang PEAce bonds? ano, lutong makaw na naman? paano ba kayo nakakatulog sa gabi?

"“The committee upon the request of the Freedom from Debt Coalition decided to reopen the hearing of the PEACe bonds, this will allow the FDC to participate,” he stressed.

"The FDC, in a press statement, said the House panel is already gathering the signatures of its members for the approval of the report which primarily had two findings — the issuance of the PEACe bonds was regular and conformed to prescribed procedures, and that the Philippine government obtained a fair and reasonable value from the proceeds of the sale of the PEACe bonds."

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