Philippines, Muslim Rebels Forge Wealth-Sharing in Peace Accord

The Philippines and Muslim rebels signed a wealth-sharing agreement yesterday after eight months of talks, bringing President Benigno Aquino closer to ending four decades of insurgency on resources-rich Mindanao island.

“In a show of true commitment, the parties extended the meeting, originally scheduled for four days to six days, to be able to overcome their concerns and reach an agreement,” the government and the Moro Islamic Liberation Front said in a statement. The pact provides “sufficient guidance” to draft wealth-sharing and revenue-generation provisions of a law expanding Muslim autonomy in a region to be known as Bangsamoro, they said.