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Rappler is an independent Philippine news publisher known for its investigative journalism, multimedia reporting, and in-depth analysis of national politics, social media dynamics, and press freedom issues.

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Ex-BSP official: Flood control scandal, political dynasties hinder economic growth

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Former Bangko Sentral ng Pilipinas (BSP) deputy governor Diwa Guinigundo told the Senate on Thursday, September 24 that the flood control scandal had a “chilling effect” on private investment and government spending, and that red tape and weak governance continue to hold back economic activity. 

Guinigundo made the remarks during a hearing of the Senate ad hoc committee on Reinvigorate Investment and Sustainable Economic Growth (RISE), chaired by Senator Risa Hontiveros.

Guinigundo also called on Congress to pass a “genuine” anti-political dynasty law.

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