Ramos warns bankers

Ramos warns bankers

MANILA (Reuter): Philippine president Fidel Ramos has warned
bankers against the increasing loan applications of politicians
starting this year as most of which would be used just for
political campaigns.

Ramos advised bank presidents whom he met in a closed-door
meeting recently to scrutinize all loan applications especially
made by incumbent local officials, the presidential palace said
in a statement released yesterday.

A simultaneous presidential and local election is slated in
May next year, but jockeying for positions and political
campaigns have started nearly a year and a half in advance.

"As the political season heats up, some of them will resort to
various ploys just to ensure that they get reelected," Ramos told
the bankers.