Office of the President
of the Philippines
February 14, 1970
Adevoso’s group has postponed its meeting set Wednesday. They must smell something.
But de Leon says the barracks in this secret training place in Northern Samar is so camouflaged that it cannot be seen from the air. It is a long building roofed with galvanized iron over which tree bark and soil is spread. Two Americans went there four times in the about two weeks that he was there by small plane which are then covered with tree foliage. He does not know their names but will try to get their pictures as well as that of the place when they return Wednesday. He was with an Atty. Tumulak, Osmeña’s man, when he went there last.
I have now asked the 3rd PC Zone Commander, Gen. Reyes, to come with the CIS officer, Maj. Manglongat. There is one Home Defense Force in this zone and it should be used against this camp.
Gov. Licaros has called up by long distance to report that the IMF team’s (headed by Dr. Zabvkar) report will be submitted to the IMF Board next Friday the 20th and will be approved. The third credit tranche of $27.5 million will be granted, $40 million loan for Central Bank working balance from the consortium of 23 U.S. banks $40 million loan from the Federal Reserve Bank and possibly $60 million standby loan from the consortium. He leaves for Tokyo next Tuesday where we hope to borrow $200 million standby and $50 million trade credits.
The dollar now costs ₱6.10 – a new high.
This is what concerns me most because if it goes any lower, we will have inflation and instability. Then there may be riots.
We must now pass the price control bill I certified last Thursday (Feb. 12th) and the rent control bill. Then we must allow the entry of essential commodities to be stocked in the Free Trade Zone at Mariveles.
We must soon allow the expenditure of funds for highways and ports because while there is money in Manila, there is beginning to be a pinch in the provinces.
I should record the attempt of Angel Nepomuceno, co-owner (with Bibit Duavit) of the Butterfly and who is now keeping Gerry Barican at his house, and Tony Pastalero to hold me up for ₱150,000 for alleged expenses during the Alcantara funeral when allegedly they used 250 students to prevent any untoward event – allegedly committed by Tony Raquiza. Tony Raquiza denied this to me yesterday when he came to see me playing golf alone at about 6:30 PM. He says he did not convey this to me as he found the proposal obnoxious as it smacked of blackmail.
The students have their weaknesses.