Philippine Economy Withstands Latest Corruption Scandal

BY JAMES HOOKWAY

The latest Philippine corruption scandal could bolster President Benigno Aquino III’s own war against graft—and lead to further investor confidence in the country’s economy.

Prosecutors this week filed graft charges against three prominent senators, two former lawmakers and a businesswoman for their alleged roles in misusing more than $200 million in state funds, a scandal that has rocked the Philippines’ political system. All six persons charged so far, including a former Senate president, have denied wrongdoing.

An outpouring of anticorruption protests have followed the news of the scandal since it first broke. On Aug. 26, some 80,000 protesters thronged Luneta …

Article source: http://online.wsj.com/article/SB10001424127887323342404579080871650566730.html

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