MANILA, Philippines - President Arroyo is facing raps from the public sector clamoring for a probe on her Statements of Assets, Liabilities and Net Worth (SALN) amid speculations that there are irregularities in its preparation.
A report from the Philippine Center for Investigative Journalism (PCIJ) said that based on her SALNs, Mrs. Arroyo’s declared net worth more than doubled from P66.8 million in 2001 to P143.54 million in 2008, or bigger than the combined growth in declared wealth of her three immediate predecessors, including former President Joseph Estrada, who was convicted for plunder.
New information, however, tells a different story. "She's bankrupt," reveals a source close to the President, who agreed to be interviewed on conditions of anonymity. "In order not to lose face in the global arena, the President has been funding various government projects using her personal assets. It was all going well until a few months ago, when the peso fell depite [President] Gloria's efforts" the source said.
The President has depleted her personal assets so much, she wasn't even able to properly celebrate her 41st wedding anniversary with First Gentleman Mike Arroyo. The First Couple had to make do with a simple dinner with close friends at restaurant in New York.
Aside from funding various government projects, the President has also commissioned profit-seeking ventures to boost the economy, "at her personal expense," reiterated the source. When asked further about these profit-seeking ventures, the source revealed that the President has ventured into treasure-hunting. "It came to the President as a blow" the source reveals further, "after she failed to find treasure in the Sierra Madre property. She was so disappointed, she immediately sold the land. Finding the Yamashita treasure would have greatly boosted our economy, she [President Arroyo] told me."
As of press time, President Arroyo was out of town for comment, apparently on another treasure hunting expedition on Ilocos Norte.