President Ferdinand Marcos Jr. has authorized the release of Vice-President Sara Duterte-Carpio's tax returns and bank records to the Senate impeachment court, marking a sharp escalation in the Philippines' ongoing political crisis.
The decision, reported by BusinessWorld, removes a key procedural barrier that had previously shielded the vice-president's financial data from prosecutors.
The move follows weeks of heightened tension between the Marcos and Duterte political camps.
Earlier this week, the Philippine Senate granted prosecutors access to key financial records in the impeachment trial, signaling that the investigation is moving into a more aggressive phase.
Bank managers have already testified before the impeachment court regarding hundreds of millions of pesos in cash withdrawals executed by the Office of the Vice-President and related departments.
For investors, the deepening rift raises concerns about policy continuity and governance stability in Southeast Asia's fourth-largest economy.