MIF bombshell at WEF

“It

is not BBM’s problem if the Senate does not share the sense of urgency in pursuing a quick rebound for the economy from the desolation caused by the pandemic.

A hush-hush plan for the Maharlika Investment Fund will be revealed in Switzerland as a highlight of President Ferdinand “Bongbong” Marcos’s ongoing visit to Davos for the World Economic Forum.

The plan that will be unveiled may include the holding of a stock market float through an initial public offering to democratize the MIF and have sizable financing to boot.

The evolution of the MIF plan has been moving on during the days after 25 December when the proposal to build up the money pool was drafted, according to a Daily Tribune source.

It was then presented to President Ferdinand “Bongbong” Marcos Jr. last Wednesday or a few days before the Palace announcement that the sovereign fund will have a soft launch during the WEF in Davos where Marcos is now.

BBM liked what was presented to him by the four-man team of equities and financial experts.

The presentation was arranged by a tycoon who heads a well-diversified global business operation.

The head of the super minority of two, Sen. Koko Pimentel, said the move of Marcos to have a roadshow for the MIF in Davos was meant to “force the Senate into passing the controversial Maharlika Investment Fund bill”.

He claims that Marcos was making the WEF move to give the Senate no other choice but to concur with the House of Representatives version of the bill.

Senators led by Pimentel had indicated that they