President Arroyo urges Philippines Social Security System to Move into Microfinance Investments after Overcoming “Seemingly Insurmountable” Challenges

President Gloria Macapagal Arroyo of the Philippines announced in a bullish speech given at the 2^nd National Convention of the Account Officers of the Social Security System (SSS) that the SSS would move into “investment areas like microfinance.” Since the SSS funds have increased from 196.3bn Philippines Pesos (USD 4.1bn) in 2005 to P225bn (USD 4.8bn) in 2006, overcoming what President Arroyo has called ‘insurmountable challenges’, it aims to widen its market and get into further investment areas.

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