Thousands Rally In Philippines As Anger Builds Over Flood Graft

(MENAFN- Live Mint) (Bloomberg) -- Thousands of Filipinos joined marches in Manila and other areas of the country on Sunday, protesting against what organizers say is widespread corruption within the government.

The rallies appear to be the biggest since President Ferdinand Marcos Jr. said in July that some government flood-control projects had become a source of kickbacks. Corruption has long been a problem in the Southeast Asian nation, but the claim it involved state programs meant to mitigate flooding in one of the world's disaster-prone nations struck a chord with many citizens.

“While there are people who suffer from the storms and floods, there are those allegedly involved in corruption in these projects who are flaunting their rich lifestyles on social media,” Francis Aquino Dee, one of the leaders of the protests, told local TV station GMA News.

Philippine financial markets haven't been affected by the corruption allegations and the public uproar, although that may change if the unrest intensifies. The peso has been largely steady against the dollar this month while the country's benchmark stock index is up almost 2% over the same period.

Organizers say more than 30,000 people are expected to join a rally near the main highway in the capital, the site of a largely nonviolent revolution in 1986 that toppled late dictator Ferdinand Marcos, father of the current leader.

Over 20,000 people have converged in other parts of Manila, the local government said. There are also simultaneous protests in other places across the country. A diverse group of people joined the demonstrations including students, church leaders, militant organizations and some lawmakers, according to local media reports.

President Marcos has said he supports the protests but warned that law enforcement would act if the demonstrations become violent. Sunday's demonstrations have been peaceful so far, according to police.

The protests come at a time of growing unrest across the region. Demonstrations in Indonesia over perks for politicians quickly turned violent after the death of a 21-year-old motorcycle taxi driver in Jakarta who was run over by a police vehicle last month. Nepal was hit by deadly protests this month, led mainly by teenagers and young adults, which forced the country's top leadership to resign.

The Philippine president created an independent body this month to determine how much was allegedly stolen from state coffers for flood-control projects. Hundreds of bank accounts tied to the programs have been frozen, and Marcos' cousin has stepped down as Speaker of the House of Representatives amid allegations that he may have been connected to the graft-ridden projects. He has denied any wrongdoing.

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