Former President Rodrigo Duterte’s accusations of mismanagement of the country’s gold reserves might be a “campaign joke,” Malacañang said on Monday, February 24.
During a Palace briefing, newly appointed PCO Undersecretary Atty. Claire Castro responded to former President Duterte’s claims that the Marcos family stole and sold the country’s gold reserves.
Castro questioned the truth of Duterte’s statements, reminding everyone of his “jet ski promise” from the 2016 campaign, where he said he would ride a jet ski to the West Philippine Sea to confront China.
“Hindi ba ito campaign joke ulit ni dating Pangulong Duterte? Hindi pa ba tayo nasanay doon sa jet ski promise niya? Na noong naniwala tayo halos sa mga sumuporta sa kaniya ay tinawag tayong ‘stupid,'” Castro said.
“So, kapag naniwala ba tayo ulit sa sinasabi niyang ito eh baka mapagkamalan niya tayo ulit at tawagin tayong stupid,” Castro added.
Castro emphasized that the administration is taking the matter seriously to prevent the spread of misinformation.
She also pointed out that the issue had already been addressed in October 2024, clarifying that the sale of gold reserves is a regular activity managed by the Bangko Sentral ng Pilipinas (BSP) to support the economy.
“Ayun sa BSP, ang pagbibenta ng gold is just a regular activity. Why? To pump up the economy. Even at the time of former President Duterte, trabaho na ito ng BSP – hindi niya ba alam iyon?,” Castro said.
Castro also challenged Duterte to provide evidence to support his allegations, noting that his statements lacked detail and proof.
This clarification comes in response to Duterte’s recent claims, which have reignited discussions about the management and sale of the nation’s gold reserves.
”Wala ta kabalo ang gold diin gibaligya ug pila (We don’t know where the gold was sold and for how much),” the former president said.
”They don’t bother to answer, and they don’t really bother to give a statement to the Filipino people,” Duterte added.
Bangko Sentral ng Pilipinas, for its part, firmly denied allegations of stolen gold within the country’s reserves, emphasizing that all transactions are transparent and conducted in the nation’s best interest.
“The BSP sold gold during the first half of the year as part of its active management strategy of the country’s gold reserves,” BSP said.
“Similar to other central banks, the BSP maintains a portion of its reserves in gold as part of the country’s Gross International Reserves (GIR), mostly to hedge against or offset movements in the market price of other assets,” the BSP added.
Addressing concerns about the potential mismanagement or unauthorized sale of gold reserves, the BSP reiterated its commitment to transparency and accountability.
“The proceeds from gold sales revert to and remain within the GIR, ensuring that all transactions benefit the country’s economy,” the institution assured. (TCSP)
