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Gloria may grill Dinky on PEACe bonds inquiry—ally


Former President Gloria Macapagal-Arroyo may want to grill her former Cabinet official and now Social Welfare Secretary Corazon “Dinky" Soliman when the Lower House conducts a probe into the so-called PEACe bonds that will allegedly benefit a non-government network associated with Soliman. House Deputy Minority Leader and Quezon Rep. Danilo Suarez, an ally of Mrs. Arroyo, believes that the former President will not just let the chance pass to question her former DSWD secretary about the bonds issued in 2001. Soliman was a former ranking official of the Caucus of Development NGO Networks (CODE NGO), a consortium of non-government organizations that allegedly stands to benefit from the bonds when they mature next year. “I don’t think she [Mrs. Arroyo] will inhibit, definitely she will participate in the investigation," Suarez told reporters during a news forum in Quezon City. Suarez recalled that Mrs. Arroyo indirectly grilled Soliman during the deliberations on the proposed P21.194-billion budget for the conditional cash transfer (CCT) program, which appears to be turning into the centerpiece program of the Aquino administration. (See: Ex-Pres. Arroyo faces former friend at DSWD budget hearing) Suarez and Cagayan de Oro City Rep. Rufus Rodriguez, author of the resolution calling for the conduct of the inquiry on the PEACe (Poverty Eradication and Alleviation Certificate) bonds, said the country will be facing another financial problem in raising the P35 billion needed to pay the maturing bonds. The PEACe bonds are 10-year, zero coupon bonds issued by the Bureau of Treasury in October 2001. These were government debt papers that were sold to investors at a discount and would be repaid after 10 years. The investor collects the interest earned only after 10 years. Upon maturity of the bonds next year, the government will have to pay investors the amount of P35 billion, which is the lump sum of the original P10-billion worth of bonds that represent the maturing debt principal, plus the 12.75 percent interest per year compounded over 10 years. Rodriguez said Soliman and Presidential peace process adviser Teresita “Ding" Deles, who was also allegedly involved with the CODE-NGO, will be among the expected resource persons in the inquiry. “I was assured by Secretary Soliman and Ding Deles of their cooperation in determining the truth about these PEACe Bonds," said Rodriguez. Rodriguez and his brother, Abante Mindanao Rep. Maximo Rodriguez, had filed House Resolution No. 58 calling the House committee on good government to conduct an inquiry on the matter and serve notice to all concerned, including the Department of Finance (DoF), CODE-NGO, the Bureau of Treasury and such other individuals, entities and corporations which could shed light and resolve the issue. Meanwhile, executive director of CODE NGO Sixto Donato Macasaet spoke up also on Wednesday, insisting that politics is behind the renewed calls to revive the questions that hounded the PEACe bonds in the past years. Macasaet said it seems some sectors want to destroy Soliman and remove her from the Cabinet. (See: Politics behind Dinky's 'PEACe bonds' mess, NGO says)—Amita O. Legaspi/JV, GMANews.TV

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