Estrada: 'I'll testify'

Estrada says he did not take any cash

The President of the Philippines, Joseph Estrada, who is accused of accepting millions of dollars in bribes, says said he is ready to testify during his impeachment trial.

I am ready to testify - the accusation is a set-up to discredit me

President Estrada

But the president said he still had to consult his lawyers on whether he should take the witness stand at the Senate hearing.

He also appealed to Filipinos to stop holding demonstrations demanding he resign, insisting he would not bow to such pressure.

Vice-President Arroyo: Trial will be damaging

Mr Estrada's impeachment trial, the first in the country's history, is due to start in the Senate early next month.

Two thirds of senators must find him guilty to remove him from power.

The scandal blew up when a former friend of Mr Estrada accused him of pocketing more than $8m in bribes from syndicates running an illegal lottery game and $2.6m from tobacco taxes.

Protesters took to the streets on Tuesday

A writ will be served on Mr Estrada on Monday, giving him 10 days to reply to formal charges of corruption, bribery, betrayal of public trust and culpable violation of the constitution.

Senate staff have been hastily drawing up draft rules for the trial based on those used in President Bill Clinton's impeachment process in the United States.

'Set-up'

Mr Estrada, a former movie star, said on Thursday that the charges were a set-up designed to discredit him.

He also dismissed statements by Vice-President Gloria Macapagal Arroyo that his reputation would be so damaged by the trial that he would be unfit to govern.

"That's her opinion. Let her wait until 2004," he added referring to the year when his term in office is due to end.

The allegations have wreaked havoc with the Philippine economy and triggered repeated calls for Mr Estrada to step down.

More than 100,000 protesters, including financial traders and businessmen, marched on Tuesday in support of a general strike to demand his resignation.

But Mr Estrada says he has grassroots support. A recent poll showed 56% of Filipinos still like him.