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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
City skyline at sunset in Metro Manila
Economic Updates
Quarterly Economic Growth Release: Stronger case for a BSP cut in August
August 7, 2025 DOWNLOAD
economy-ss-3
Economic Updates
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August 5, 2025 DOWNLOAD
bsp-banner
Economic Updates
Monthly Economic Update: Two more BSP cuts 
July 31, 2025 DOWNLOAD
View all Reports
Reuters 2 MIN READ

Philippines’ Pacquiao vows to chase ill-gotten Marcos wealth if president

February 4, 2022By Reuters
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By Karen Lema and Neil Jerome Morales

MANILA, Feb 4 (Reuters) – Boxing icon Manny Pacquiao vowed on Friday that if elected Philippines president he would strengthen efforts to recover billions of dollars of wealth missing since the fall of the Marcos dictatorship, as part his anti-graft platform.

Pacquiao’s comments are a jab at rival and early favourite Ferdinand Marcos Jr, whose family was accused of plundering an estimated $10 billion during his late father’s opulent two-decade rule, spending it on jewellery, real estate and scores of artworks including those of Pablo Picasso and Claude Monet.

Pacquiao said the Presidential Commission on Good Government (PCGG), which recouped $3.41 billion of wealth from the Marcoses and their associates in 33 years, would be empowered to recover more if he wins the May 9 election.

“We will strengthen the PCGG and the money that belongs to the government should be given to the government,” Pacquiao told a forum of presidential candidates, from which Marcos, better known as “Bongbong”, was absent citing a schedule conflict.

“The reason why our country is poor is because of thieves in government and that is why we need to eradicate corruption,” said Pacquiao, a senator and former eight-division champion.

The Marcos campaign team did not immediately respond to a request for comment.

In a Jan. 25 radio interview, Marcos acknowledged court judgements against the family regarding assets and it would respect the law and court decisions.

Like Pacquiao, other presidential contenders, Vice President Leni Robredo, Manila mayor Francisco Domagaso, Senator Panfilo Lacson and Leody de Guzman, a labour leader, all pledged to root out government graft and protect public money.

Despite being overthrown in a 1986 revolt and driven into exile, the Marcos family remain a powerful force in the Philippines, with loyalists throughout the bureaucracy and political and business elite.

The family returned to the Philippines in the 1990s and Marcoses have held political office ever since, including governors, members of congress and senators.

(Reporting by Karen Lema and Neil Jerome Morales; Editing by Martin Petty)

((karen.lema@thomsonreuters.com; +632 841-8938;))

This article originally appeared on reuters.com

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