CLAIM: Facebook reel falsely claims Maharlika Investment Fund will end country’s multi-billion dollar debt and cease future loans
RATING: FALSE

Freeing the country from its multi-billion-dollar debt is not the goal of the Maharlika Investment Fund (MIF), contrary to a Facebook reel posted by a pro-Marcos content creator.

According to the Department of Finance, the MIF “is designed to catalyze economic development and accelerate the country’s growth by optimizing the use of government financial assets and promoting their intergenerational management.”

The country still plans to borrow P2.46 trillion to finance the 2024 budget.

The Philippines’s external debt stood at US$117.9 billion as of end-June 2023. Roselyn Dapiton

 

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