President Ferdinand "Bongbong" Marcos Jr. on Thursday clarified that the Maharlika Investment Fund was not put on hold, saying the government is still working to have it operational within the year. "I was a bit alarmed by the news reports early this morning that I read in the newspapers that we have put the Maharlika Fund on hold.
"We are, the organization of the Maharlika Fund proceeds apace, and what I have done though, is that we have found more improvements we can make, specifically to the organizational structure of the Maharlika Fund," the President added. In a memorandum dated October 12, 2023, Marcos directed the suspension of the enforcement of the implementing rules and regulations of the MIF "pending further study.
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Marcos orders suspension of Maharlika Investment Fund IRRThe memorandum suspending the IRR was addressed to the Bureau of Treasury and the CEOs of state-run Land Bank of the Philippines and the Development Bank of the Philippines.
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