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Dominguez takes swipe at Arroyo admin’s ZTE deal, says PHL won’t repeat mistake


Finance Secretary Carlos Dominguez III on Thursday lashed out against a former administration over what he called "scandalous mismanagement" of funds from China.

During the Wallace Business Forum in Makati City, Dominguez said the Duterte administration is not about to allow the country to be drowned in debts to China as "we learned much already form the past administration's scandalous mismanagement of Chinese financing."

While he did not specifically identified which administration he was referring to, the Finance chief mentioned the Chinese firm ZTE which in 2007 cut a national broadband network deal under the  Arroyo administration.

The $329-million deal was eventually cancelled amid a bribery scandal.

Then President Gloria Macapagal-Arroyo is now Speaker and an ally of the Duterteadministration.

"I don't have to mention the names, I'll just mention some initials. ZTE for instance," Dominguez.

"During that time, the previous leadership allowed Chinese state-owned enterprises to dictate what projects will be undertaken here," he added.

The Finance chief made the statement amid rumors that Arroyo would take the helm of the Department of Finance when her term as a lawmaker ends next year.

"In our own dealings, we have made it very clear to Chinese side that the Duterte administration will protect the country from unnecessary projects driven by agencies outside the Philippines," Dominguez said.

"I'd also like to point out that before any project could begin, the government has made it to a point to subject each one to a feasibility study," he added. —NB, GMA News

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