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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 934 - CREATING
A PRESIDENTIAL ANTI-DOLLAR SALTING TASK FORCE
WHEREAS, the nation is in the midst of
economic difficulties occasioned by the influence of unfavorable
international and domestic circumstances;
WHEREAS, a major contributory factor to these economic difficulties has
been the salting away of foreign exchange by unscrupulous businessmen;
WHEREAS, dollar salting aggravates the balance of payment problems,
increases pressure on the foreign exchange rate, and fuels inflation;
WHEREAS, estimates for 1983 alone indicate that over $1 Billion have
been salted away by unscrupulous businessmen;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and ordain:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Done in the City of Baguio,
this 13th day of February, in the year of our Lord, nineteen hundred
and eighty-four.
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Since 19.07.98.