Philippine Stock Market Investors Lose P1.7 Trillion Over Corruption Scandal
MANILA, Philippines — Philippine stock market investors have reportedly lost a staggering P1.7 trillion in just three weeks due to corruption linked to anomalous flood control projects, according to the Securities and Exchange Commission (SEC).
Francis Lim, chair of the SEC, recently addressed financial executives, highlighting that the billion-peso flood control project scandal has severely shaken public confidence. This loss of trust is significantly impacting the country’s overall financial market stability.
