In international view, the PH corruption crisis requires structural reforms. Otherwise, it will be prolonged by managed damage – or weak governance may spark major civil unrest.

Currently, the behind-the-façade international view is that the Marcos Jr. government is managing the crisis politically, not yet resolving it structurally. Cynics believe that the pattern increasingly resembles selective accountability rather than systemic correction. 

The realities are more nuanced, but the likely scenarios vary from highly challenging to detrimental over time and to civil unrest.

Investigations pave way to actual high-level prosecutions, which move forward. Real procurement reforms are implemented at the Department of Public Works and Highways. Reports by the Commission of Audit show recovery of funds or cancellation of anomalous projects. Executive and Congress align on anti-corruption legislation. 

International observers make a note on the progress. Among credit rating agencies, S&P affirms the country’s BBB rating and restores momentum toward an A- upgrade, with a positive outlook. Fitch and Moody’s follow in the footprints highlighting “strengthened governance trajectory” in their reports. Corruption in the Philippines is no longer seen as structural decline. It is framed as a corrected shock.

In markets, the risk premium demanded by investors to hold Philippine bonds decreases by 0.30% to 0.50%, allowing the country to borrow money at lower interest. As market confidence improves, peso volatility moderates.

Investors favoring Environmental, Social & Governance (ESG) criteria begin to cautiously return. Foreign direct........

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