Beyond Nomura’s uncertainty: The biggest irony of a Marcos Jr. presidency
Beyond Nomura’s uncertainty: The biggest irony of a Marcos Jr. presidency
While Vice-President Leni Robredo was considered by Nomura Global Research as the market-friendly choice as the next president of the Republic, former Senator Ferdinand Marcos, Jr. was dismissed as an uncertain choice. Nomura believed that Marcos Jr. is less market-friendly because his victory might cast doubt on the May 2022 elections.
To Nomura’s ASEAN research team based in Singapore, “a Marcos victory will likely be viewed negatively owing to perceptions against him, in part because his candidacy is facing some petitions for disqualification on grounds of making false statements and a previous conviction of failing to file income tax returns.”
Indeed, there is not only one petition but seven petitions questioning the qualifications of Marcos Jr. as candidate for president. Seven petitions were filed with the Commission on Elections (Comelec) for the invalidation of his candidacy. Of these petitions, four wanted him disqualified on the basis of his 1997 tax conviction. Two petitions asked Comelec to cancel his certificate of candidacy (COC) on account of his conviction and therefore ineligibility to run for public office. One petition is for him to be declared as nuisance candidate because “his purpose was mainly to have his family’s political comeback in Malacañang.” This last one was dismissed by the Comelec outright.
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