May 25, 2017 / 2:49 AM / 2 years ago

Philippines' finance minister says economy not threatened by martial law

Philippine President Rodrigo Duterte talks to Finance Secretary Carlos Dominguez III and newly-appointed Central Bank Governor Nestor Espenilla at the Malacanang presidential palace in Manila, Philippines May 8, 2017. Picture taken May 8, 2017. Malacanang Photo/Handout via REUTERS

MANILA (Reuters) - Philippine Finance Minister Carlos Dominguez on Thursday tried to allayed investors’ fears over President Rodrigo Duterte’s decision to impose martial law on the island of Mindanao, saying the local economy remains intact.

“The economy is in no way threatened by the imposition of martial law. The military is in full control of the government installations and major infrastructures on the island,” Dominguez said in a statement.

“Martial law will ensure that these facilities are protected so that business transactions will be unaffected,” he said.

Duterte placed the southern island of Mindanao under military rule on Tuesday, after a fierce bout of fighting erupted during a raid by security forces at a hideout of Islamic State-linked militants.

Reporting by Karen Lema

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