Marcos scandals

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The Marcos scandals, also known as the Marukosu giwaku (マルコス疑惑?) in Japan, refers to incidents of alleged corruption of Japanese Official Development Assistance to the Philippines during Philippine president Ferdinand Marcos' administration that was exposed after the People Power Revolution. The issue was dealt with by both administrations of succeeding presidents Corazon Aquino and Fidel V. Ramos. When the Marcoses were exiled to Hawaii in the United States in February 1986, the American authorities confiscated papers that they brought with them. The authorities found that since the 1970s, Marcos and his associates received commissions of 10 to 15 percent of Overseas Economic Cooperation Fund loans from about fifty Japanese contractors. The Japanese government discreetly requested the Philippine government to downplay the issue as it would affect the business sector and bilateral relations.[1]

References[edit]

  1. ^ Ikehata, Setsuho; Yu-Jose, Lydia, eds. (2003). Philippines-Japan Relations. Ateneo De Manila University Press. p. 591. ISBN 971-550-436-1.