Marcos' Yen for Corruption

  • Masaki Yokoyama


The year 1986 was to be devoted to a thorough examination of the policies and practices regarding Offical Development Assistance (ODA), in the light of several exposes of cases of corruption and bribery involving Ferdinand Marcos, the Japanese International Cooperation Agency (JICA), and the Overseas Economic Cooperation Fund (OECF). In reality, however, only the substantial expansion of the budget for ODA is apparent at present. What does this signify?

This article takes up the issue of corruption under the Marcos regime with regards to yen loans to the Philippines, particularly the issue of rebates paid by Japanese companies to the Marcoses and their "cronies".

It is contended here that embezzlement has been conducted over a long period, not in a disorderly or sporadic manner, but systematically and comprehensively. The first step to take, therefore, in order to prevent any recurrence of the "Marcos scandal" is a thorough exposition and eradication of the system which allowed the embezzlement to take place. in this context, the Japanese government's system of review of ODA will also be examined.