FIDEL RAMOS

PRESIDENT (1992-1998)
FAMILY BACKGROUND AND HISTORY.

Fidel V. Ramos was born in Lingayen, Pangasinan on February 8, 1928. His

parents are Narciso Ramos (A lawyer, a crusading journalist, a legislator and later,
secretary of foreign affairs) and Angela Valdez Ramos. Fidel V. Ramos have two
sisters, Senator Leticia Ramos Shahani and Gloria Ramos de Rodda, a diplomat.

Become a Valedictorian of his graduating class at the Lingayen Elementary School

in Maniboc, Lingayan, Pangasinan, he was the consistent valedictorian of his class,
through his elementary grades and through his high school at the University of the
Philippines.

In the year 1950, Fidel V. Ramos graduated in the U.S. Military Academy at West
Point, New York, a well know military school in the U.S.A. He also acquired his
master in Civil Engineering course at the University of Illinois in the year 1951.
Another course in associate Infantry Company Officers at Fort Benning at Fort
Bragg.

In the year 1960 he was the topnotcher of all the 21 graduated for the "Special
Forces/Pay Operations/Airborne." Aside from those courses, he took up
Command and General Staff at Fort Santiago year 1965, where he became the
topnotcher of all 48 graduating students.

During the administration of President Marcos, Fidel V. Ramos became the

Presidential assistant of military tactics. (1968-1969); Assistant to the head of State
of the Civil Defense July 1, 1969- Nov. 6, 1970.

Head of the Intelligence Services of the Armed Forces of the Philippines and
Deputy Chief of Staff for Home Defense Activities (1971-1981). Moreover, he
become a delegate of the Philippines to other countries such as: Delegation for the
third conference of the Association fo Southeast Asian Nations, held at Malaysia
(1969) and the Ministerial conference of Southeast Asian Nations held at Kuala
Lumpur (Nov. 1971).
According to his record, FVR receives award, medal and honor for his
achievements in Korea and Vietnam. Known for his disciplinarian method in his
troop but has a good faith in his heart.In his administration the good President
look forward the dream for the Philippines as an industrialized country towards
the year 2000.

He also emphasizes for the rebels who are willing to surrender, to achieved the real
peace and order in the country.The Ramos Administration intensify to complete
the Program such as; school buildings, roads and bridges, country wide
development, country's infrastructure program for Luzon, Visayas and Mindanao
and inviting foreign investors to put up business in the country to help the Filipino
People.

Fidel Ramos, in full Fidel Valdez Ramos, byname Eddie

Ramos
(Born March 18, 1928, Lingayen, Phil.),
Military leader and politician who was president of the Philippines
from 1992 to 1998.
He was generally regarded as one of the most effective
presidents in that nations history.
Ramos was educated at the U.S. Military Academy at West Point,
N.Y., and at the University of Illinois, U.S. He then entered the
Philippine army, serving in Korea and Vietnam. In 1972
President Ferdinand Marcos (who was Ramos second cousin)
appointed him chief of the Philippine Constabulary, and when
Marcos imposed martial law later that year Ramos was
responsible for enforcing it; the Constabulary arrested thousands
of political dissidents. In 1981 Ramos became deputy chief of staff
of the armed forces.

After the presidential elections of 1986, in which Marcos claimed

victory despite allegations of large-scale electoral fraud, Ramos
and defense minister Juan Ponce Enrile supported Marcos
opponent, Corazon Aquino. Their defection sparked the civilian
People Power movement that forced Marcos into exile. During
Aquinos presidency Ramos served as military chief of staff (1986
88) and secretary of national defense (198891), and he
suppressed several military coup attempts against
her government.

Ramos was elected to succeed Aquino in May 1992. As president

he purged the national police force of corrupt officers; encouraged
family-planning practices to curb the growth of the countrys
population; and liberalized the Philippines heavily
protected economy in order to spur economic growth. Ramos
governing coalition won a decisive victory in congressional
elections held in 1995, midway through his six-year term as
president. His administration reached peace agreements with two

long-active guerrilla insurgencies, the communist New Peoples

Army and the Muslim separatists of the Moro National Liberation
Front. He meanwhile continued his efforts to deregulate major
industries that were dominated by a handful of large companies
and to improve the governments inefficient tax-collection
system. These reforms helped revitalize the Philippines economy,
which emerged from years of stagnation to grow at a rapid rate in
199497. The country was thus able to weather a severe business
downturn that crippled national economies across Southeast Asia
in 1998. Ramos was constitutionally restricted to one term as
president, which ended in June 1998.

1986 EDSA REVOLUTION AND

THE AQUINO GOVERNMENT
Assassination of Ninoy Aquino
September 21, 1972- proclamation of Martial Law
President Marcos tried to neutralize his opponents and the
opposition party by filing charges to them.
He ordered for the arrest of Senator Benigno Ninoy Aquino
Jr.
Aquino was imprisoned at Fort Bonifacio for almost 8 years.
He was released when he underwent a heart bypass
operation in the United States.
For almost 3 years in the United States, Aquino decided to
return to the Philippines, Marcos tried to stop him, claiming
that there was a threat to his life.
He was ordered to postpone his return to the country but he
persisted. By using fake travel documents, he was able to fly
back to the Philippines.
August 21, 1983- He boarded at China Airlines that landed at
Manila International Airport at about 1:00 p.m in the afternoon.

 At the stairway, a shot rang out, in a few seconds several

shots were fired.
Ninoys lifeless body lay dead on the airport Tarmac.
Rolando Galman- Ninoys alleged
His lifeless body was found few meters from Aquinos body

SNAP PRESIDENTIAL ELECTION OF 1986

1985-the call for change of government and the resignation of
President Marcos emerged.
February 7, 1986- snap presidential election called by Marcos.
-to prove that majority of the citizens still trust
Marcos and he still have the mandate of the
people.
The government party, KBL chose President Marcos and Assembly
man Arturo M. Tolentino as their official candidates for president
and vice president.
On the opposition:
United Nation Democratic Party (UNDO) and PDP Laban
- Mrs. Corazon C. Aquino (president) Ninoys
widow.
-Salvador H. Laurel (vice president) - son of the late
President Jose P. Laurel.
President Marcos, a brilliant politician, planned the KBL
Party strategy to ensure their victory in the snap election, by
using guns, goons, and gold to intimidate or entice voters to
support the Marcos- Tolentino ticket.
Marcos pa rin! (Were still with Marcos!)
-battle cry of the KBL
Tama Na, Sobra Na, Palitan Na! (Enough is enoughchange them)
Ituloy ang laban ni Ninoy! (Continue Ninoys fighting)

-These are the slogan of Aquino-Laurel ticket during the

election.
RESULT OF THE SNAP ELECTION
As tabulated by the National Citizen Movement for Free
Elections (Namfrel), the result of the election showed that, despite
massive cheating, intimidation and bribery by the government,
Marcos and Tolentino ticket lost to a margin of about 800,000
votes to Aquino and Laurel ticket.
The so-called official tallies made by the Commission
on Elections, as certified by the Batasang Pambansa , did not
reflect the will of the people.
Thirty Commission on Election tabulators walked out of
the Philippine International convention Center (PICC), where the
supposedly official tabulation was done; in protest of anomalous
computerized tampering of the results.
February 15, 1986- The Catholic Bishops Conference of the
Philippines issued a pastoral latter to be read in all Catholic
churches.

February 16, 1986 (Sunday) - the opposition held a huge rally,

attended by some four million people at Luneta Park, Manila.
Mrs. Aquino called for a peaceful non-violent civil
disobedience movement and she promised to rally the
support of the people to her cause through the country.
People Power Revolution
The People Power started as a military revolt of the reform
movement in the Armed Forces of the Philippines.
Leaders:
Juan Ponce Enrile Secretary of Defence
General Fidel Ramos Deputy Chief of Staf
February 22, 1986 - Minister Enrile and General Ramos gave a
press conference to announce their withdrawal of support from
President Marcos.
-Minister Enrile admitted that Mrs. Aquino had won
the elections and that President Marcos had been
deceiving the people for some time.

-He called on Marcos to resign and for the people to

support the military defectors.
Priest and nuns led by Cardinal Sin and ordinary
citizens inspired by Corazon Aquino, Salvador Laurel and others,
joined the anti-Marcos soldiers.
Three Powers:
*military
*church
*people power
The initial defection by a handful of brave military
leaders turned into a peoples revolution. After the appeals for
public support were aired over Radio Veritas, the Catholic radio
station, thousands of people filled Camp Aguinaldo and Camp
Crame, where the military defectors and reformist troops waited
from the attack of Marcos soldiers.
February 23, 1986 thousands more came and reinforced the
human barricade around two camps.
General Fabian Ver - leader of the Marcos loyalist troops which
causes the said situation more critical.
About 8 p.m. - the attacking forces, riding in armoured tanks
and carriers under the command of Brig. Gen. Artemio Tadiar,
arrived at Epifanio de los Santos Avenue (EDSA) in front of Camp
Crame.
They could not assault the camp because thousands of
unarmed civilians had formed a vast human barricade to block the
way. Priests and nuns knelt or sat in front of the tanks, and behind
them were many more citizens ready and willing to sacrifice their
lives.
People rushed to the soldiers and offered them food
and drink as a gesture of love, while children were hoisted up to
the tanks giving fresh flowers and friendly embrace to the Marcos
troops.
Evidently moved by the astonishing scene General
Tadiar ordered a retreat.

February 24 and 25 - The confidence of the people soared

because the tide turned in their favour.

About 85% of the members of the Armed Forces of the

Philippines including Air Force joined the side of Minister Enrile
and General Ramos. Millions of citizens from all walk of life took
turns in maintaining the peoples barricades, and thousand more
come from nearby provinces.
Foreign media people also flashed the news about
Philippines to other parts of the world, and even foreigners
became fascinated with the courageous out pouring of selfless
sacrifices shown by the Filipino people.
February 25, 1986 Marcos and his family, and some friends
(including General Ver) left the Malacaang Palace and were taken
by the United State Air Force to Guam then to Hawaii.
The dictatorial government has ended. The people had
won, after a peaceful revolution of only four days. To celebrate the
downfall of the Marcos dictatorship, the people it bonfires, danced
and sang in the streets of the main cities of the country.

MARIA CORAZON SUMULONG COJUANGCO-AQUINO

(February 25, 1986 June 30, 1992)
Seventh President of the third Philippine Republic

First woman President of the country

She was born on January 25, 1933
Died on August 1, 2009
Through the people power she led, she restored democracy of the
Philippines
She led the people power that ousted the strongman Ferdinand E.
Marcos
She was the widow of the assassinated opposition leader Benigno
Aquino
She was nominated to the Nobel Prize for peace
In 1986, she was featured by the Time Magazine as Woman of the
Year
One of her achievements was the framing of the new constitution
wherein one of the new contents was the limitation of the power of the
president
She established the bicameral system of lawmaking body.

Her programs on social aspect highlight the interest on liberties and

human rights; there was a series of peace talks with the Muslim
separatists and communist insurgents.
She encouraged prioritizing the Filipino products as her slogan goes
Lets all think Filipino; Lets buy Filipino.
The country experienced a series of coup attempts which was also the
hindrance for the aborted Nobel Peace Prize award.

SCHOLASTIC ACHEIVEMENTS
Doctor of International Relations, honoris causa, from:

Boston University in Boston

Eastern University in St. David, Pennsylvania

Fordham University in New York

Waseda University in Tokyo

Doctor of Civil Law, honoris causa, from:

Far Eastern University (59th Commencement Exercises, March

1987)

Doctor of Laws, honoris causa, from:

University of the Philippines

University of Santo Tomas in Manila

Doctor of Humane Letters, honoris causa, from:

Ateneo de Manila University

College of Mount Saint Vincent in New York

Xavier University Ateneo de Cagayan (Cagayan de Oro City,

Philippines)

Doctor of Humanities, honoris causa, from:

San Beda College in Manila, 2000

Seattle University, 2002

Stonehill College in Massachusetts

University of Oregon, 1995

Doctor of Public Administration, honoris causa, from:

Pamantasan ng Lungsod ng Maynila (University of the City of

Manila), June 1994

TRANSITORY GOVERNMENT AND

PROVISIONAL CONSTITUTION

After her oath of office at the Club Filipino, President

Aquino immediately established a revolutionary government to
control the situation. She formed a small cabinet composed of 14
minutes ordered the release of all political prisoners and restored
the wilt of habeas corpus in Region IX and XII in Mindanao, she
opened the doors of Malacaang Palace to the people and
preferred to work in the small Guest House of the Palace.

February 1987 A constitutional commission was formed to

draft a new and permanent constitution.

The constitution sets limitations on the power of the

president especially on the power to declare martial law,
proposed the creation of two autonomous regions, in the
Cordilleras and Muslim Mindanao, and restored the bicameral
congress.

In the downfall of Marcos government after twenty-five

years, the Aquino government was only transitory. Some
considered it a revolutionary government because it was born
during the peoples revolution. In substance, it was a democratic
form of government, for it was based on the will of the people.

SALIENT FEATURES OF 1987 CONSTITUTION

Democratic and Republican State
The nature of the Philippines as state, according to the
Constitution is a democratic and republican state. Following the
same provision, it states that sovereignty resides in the people
and all government authority emanates from them. The provision
is a clear provision that sovereign power belongs to the people,
not to the military or to government officials.
Separation of Powers
Consistent with the doctrine of separation of powers,
the powers of the government are exercised mainly by the three
branches- the executive, the legislative and judiciary. The 1987
Constitution prohibits encroachment of one branch over the other.
Judicial and Bar Council
A body created to recommend appointees to the
judicial branch. The council is designed to remove politics from
the appointment of justices and judges. The council was
composed of Supreme Court Chief Justice, Secretary of Justice, a
Representative of Congress, a representative from the Integrated
Bar of the Philippines, a professor of Law, a retired member of the
Supreme Court, a representative for private sector and the Clerk
of Court of the Supreme Court.
Veto Power and Overriding the Veto Power
The presidential power to disapprove or reject a
proposed law is called veto power. However, congress may
override the veto power of the president if there is approval of
2/3rds of the members of the congress. This is to ensure that
congress will not pass hasty legislation, while the power to
override is to prevent the abuse of power by the president.
Autonomy of the Local Government
The constitution grants autonomy from the local
government units. Local government units under the constitution
may exercise the three fundamental powers of the government,
these are: power of taxation, power of eminent domain and police
power

Declaration of Martial Law and

Suspension of the Privilege of the Writ of
Habeas Corpus
The president may only declare martial law and
suspend the privilege of the writ of habeas corpus in cases of
invasion and rebellion, when public safety requires it. Such
declaration and suspension will not exceed 60 days unless
approved by Congress. The declaration and suspension is also
subject to review and revocation of both Congress and the
Supreme Court.

Staggered Number of Senators

Of the twenty-four senators elected in 1992, the first
twelve obtaining the highest number of votes shall serve for six
years and the remaining twelve for three years. This is intended
to ensure the continuity of legislative process
Creation of Metropolitan Authority

Metropolitan Authority (now MMDA) is composed of

heads of all local governments in the Metropolitan Manila area.
The MMDAs tasks are the following:
(1) Development and planning
(2) Transport and traffic management
(3) Solid waste disposal
(4) Flood control
(5) Urban renewal and zoning
(6) Health and sanitation
(7) Public safety

DEVELOPMENTS UNDER PRESIDENT CORAZON

AQUINO ADMINISTRATION
A. Political Development Under Aquino Administration

Coup dtat and Insurgency

Progress is inevitable when corruption is eliminated,
peace and order and basic liberties are restored but the
administration of Aquino was considered weak, as it faced
coup attempt that hindered economic development of the
country. But the administration was able to survive at least
10 coup dtat attempt.
Privatization
President Aquino privatized many government owned
and controlled corporations, such as water and electricity.
This practice was viewed by many as Aquino catering to
oligarchic as well as promoting the interest of the United
States, losing the governments power of regulation.
Naval Bases
President Aquino lobbyed for the extension of 10 years
of United States military bases in the Philippines but the
Senate rejected it. The United States turned over the Clark
Air Base and the Subic Bay Naval Base in December 1992,
ending almost a century of U.S. military presence in the
Philippines.
The two countries, nonetheless, remain allies by virtue
of Mutual Defense Treaty (MDT) in 1951. The alliance was
further strengthened by the 1998 Philippines United States
Visiting Forces Agreement (VFA), which allowed for the
resumption of large-scale joint exercises and other defense
cooperation activities like Balikatan Exercises.
Ill- GOTTEN WEALTH
The injustice, abuses and corrupt activities of the
ousted President Marcos paved way for the series of initiatives
under the Aquino administration to give justice to the victims.

Presidential Commission on Government (PCGG)

-This was created by President Aquino to recover
properties illegally occupied by Marcos and his cronies.
Marcos and other were assessed with tax liabilities and
charged with graft and corruption. Properties in the United States,
traced as part of the Marcos ill-gotten wealth, were recovered and
sold.

Bank deposit worth millions in Switzerland was put

under the control of the Swiss courts.

HUMAN RIGHTS VIOLATIONS

President Marcos was charged for violating the U.S.

Alien Tort Statute for human rights of sone 10,000 Filipinos and
ordered to pay a total of two billion dollars as compensation to the
victims.
Presidential Committe on Human Rights(PCHR)
-Created by President Aquino
- It began receiving complaints on human rights abuses
1987- The Task Force Detains of the Philippines filed around 700
cases on various human rights abuses.

Commission on Human Rights

-received 12,000 complaints in its first 6 years.
-Only half of the investigated complaints reached the
prosecutors office and the courts

B. ECONOMIC CONDITION UNDER AQUINO

ADMINISTRATION

Foreign Debt
Countrys US $28 billion external debt
The most serious problem in the Philippines at the
time Aquino assumed the office as President.
Economists within the economic planning
agency, the National Economic and Development
Authority (NEDA) - Argued that economic recovery would
be difficult, if not impossible, to achieve in a short period of
time if the country did not reduce the size of the source
outflows associated with its external debt.
AGRARIAN REFORM

June 10, 1988 - President Corazon Aquino signed into law

Republic Act No. 6657
(Comprehensive Agrarian Reform Law of 1988)
The program gives the farmers and farm workers the
opportunity to improve the quality of their lives. The land
reform of Pres. Aquino was more comprehensive in the sense
that it covers all public and private farmlands, including
other lands of the public domain suitable to the agriculture
as compared to Pres. Marcos land reform program which
covers rice and corn farmlands only.
Note:
Qualified beneficiaries are entitled to receive family
size farmlands, which will not exceed 3 hectares.
Owners can retain 5 hectares.

ECONOMIC GROWTH
The economic growth was low to 1.9%. For the next 2
years, growth was more respectable to 5.7% and 6.7%.
1986-1987- consumption contributed to economic growth,
investment began to increase.
1988-1989- investment in durable goods increase by almost
30% because of the support of international community
1989-1991- meetings of the aid plan called the Multilateral
Aid Initiative. Also known as the Philippine Assistance Plan, a
multinational initiated to provide assistance to the
Philippines, pledges a total of US$ 6.7 billion.

Taxation
The Aquino administration formulated thirty new
measures in its tax reform program. The investment
incentives system was revised, luxury taxes were imposed.
1988- a variety of sales taxes were replaced by a 10% valueadded tax.
Problem: System of collecting taxes

C. SOCIO-CULTURAL DEVELOPMENT UNDER AQUINOS

ADMINISTRATION
Democracy has been restored, including democratic
practices and possesses upon the ouster of a director.
Basic freedom was restored, no fear of unlawful arrest nor
illegal detention, and worst summary execution.
The freedom of the press and expression were now enjoyed
without hesitation or fear from punishment.
Violence and military abuses were eliminated, people begun
to live their normal and peaceful lives.

D.EDUCATIONAL DEVELOPMENT DURING AQUINOS

ADMINISTRATION

1990-1991- Decade of Education for All (EFA)

Aquino expanded the Nonformal Education in the
Philippines.
Executive Order No. 117- enacted to create the Bureau of
Nonformal Education
Article 14, section 2(4) of the 1987 Philippine constitution:
The state shall encourage nonformal, formal,
indigenous learning systems, as well as self-learning,
independent and out-of- school study programs,
particularly those that respond to community needs: and
provide adult citizens, the disabled and out-of-school
youth training in civics, vocational efficiency and other
skills.

Scandals

Philippine Airlines Lines Stocks to nephews

Cory Approved in January 1992 the sale of 67% of the stocks

of the Philippine Airlines (PAL) to an investment group headed by
her relatives, composed of one of her Tanjuatco nephews and
three of her Cojuangco nephews. The sale resulted in a loss of
USD 300-million plus for the Filipino people. The Philippine
government, through the Government Service Insurance System
(GSIS), owned the shares. And worse, her nephews did not even
have the money to pay for the airline stocks. They borrowed the
money that they used to pay GSIS from three Philippines
government-owned banks, even using the PAL stocks as
collateral.

Refusal to give Hacienda Luisita to Farmers

Cory publicity promised in 1986 that Hacienda Luisita will be

distributed to the farmers. However, in 1987n she issued
Presidential Proclamation 131 and Executive Order No. 229 just
days before her legislative powers were going to revert back to
congress, to include a provision in the Land Reform program for a
Stock Distribution Option, which allows landowners to comply
with the Land Reform Law without actually giving land to the
formers. Hacienda Luisita of course look this new option, and thus
was not redistributed to the farmers.

LEGACY

Corazon Aquino is fondly remembered and deeply revered by

Filipinos as the "mother of Philippine democracy", the
"housewife who led a revolution" and the "woman who
restored democracy".

 Many also see her both as a hero and a saint. She has also
been hailed as a modern-day Joan of Arc by international
observers.

As president, for all the challenges and headaches her

administration faced, Aquino will be remembered for
bringing back democratic, republican and constitutional rule
in the Philippines with the unveiling and ratification of the
1987 Constitution.
She promulgated the New Civil Code of the Philippines and
the Family Code of the Philippines.
Her presidency would be remembered for its emphasis on
decentralization of governmental powers by pressing for
more involvement of local governments and pushing for
autonomy as a means to ward off ethnic secessionism in the
Cordillera and Muslim Mindanao regions.

Interesting Facts:
According to Cory, Ninoy, although not demonstrative,
expresses his love through gifts and love letters. In fact, for
her 21st birthday, Cory received from Ninoy a portrait of her
done by no less than Fernando Amorsolo. It was too
expensive that the painting cost Ninoy two months salary.
She was a grade school valedictorian by accident.
She spoke Japanese and French.
She did have some political experience.
Contrary to popular belief that Cory did not have any
political experience, she did somewhat had a brief foray into
the world of American politics. During her stay in the States,
Cory joined the junior Republicans and became a volunteer

supporter for New York Governor Thomas Dewey against the

Democrat Harry Truman during the 1948 elections
She was initially unhappy about Ninoys political ambitions.
She used tranquilizers to stop herself from crying.
Her favourite color is not yellow but red.

Cory Aquino
-was the 11th President of the Philippines and the first woman to hold that

office in Philippine history

-Second President of the Fourth Republic and the First President of the Fifth
Republic
-became the first woman president of the Philippines when she grabbed
victory over her rival Ferdinand E. Marcos

I. Biography

born on January 25, 1933 to Jose Cojuangco, Sr. and Demetria

Sumulong
born in Manila and is the fourth of six children
her family in Paniqui, Tarlac, Philippines was one of the wealthiest and
most prominent land-owning families in the Philippines

II. Education

studied Bachelor of Laws at the Far Eastern University, Philippines and

her honorary degrees include:
Doctor of Laws, honoris causa from the University of the Philippines
and University of Santo Tomas (Manila)
Doctor of Humanities, honoris causa from Stone Hill College
(Massachusetts), University of Oregon, Seattle University, and San
Beda College (Manila)
Doctor of Humane Letters, honoris causa from College of Mount Saint
Vincent (New York), Ateneo de Manila University, and Xavier University
(Cagayan de Oro City, Philippines)
Doctor of International Relations, honoris causa from Waseda
University (Tokyo), Fordham University, Eastern University, and Boston
University

III. Married Life

She married Benigno Ninoy Aquino, Jr. In 1954 and they had five
children.
Her husband Ninoy became mayor and governor in Tarlac, where he
soon got elected as a senator

Under the dictatorship of Marcos, Ninoy got arrested, was sentenced to

death and went into exile in 1980 together with Cory Aquino

IV. Accomplishments

Aquino freed 441 political prisoners and forced 22 pro-Marcos generals

to resign
She also restored the writ of habeas corpus, which is the right of a
prisoner to appear before a judge, and she also eradicated the
governments prerogative to arrest and detain people at will
In March 1986, she declared a provisional Constitutional and then a
commission was appointed to write the new Constitution, which was
designed to safeguard the country against dictatorship
In 1987, Aquino laid programs for land reform and expanded land
reform to sugar lands, wherein she issued Presidential Proclamation
131 and Executive Order 229.
She established Republic Act 6657 known as the Comprehensive
Agrarian Reform Program (CARP), which also introduced the idea of
profit sharing, wherein landlords were able to dispense small lots to
tenants

V. Economic Programs

When Aquino became president, she inherited a weak economy. The

Philippines was bankrupt and debt-ridden after twenty years of the
Marcos regime
She also moved quickly to tackle the issue of the US$26 billion foreign
debt incurred by her predecessor
Since 1986, the Aquino administration has paid off $4 billion of the
countrys outstanding debts to regain good international credit ratings
and attract the attention of future markets
The economy posted a positive growth of 3.4% during her first year in
office.
In her final year in office, inflation was raging at 17%, and
unemployment was slightly over 10%, higher than the Marcos years
Overall, the economy under Aquino had an average growth of 3.8%
from 1986 to 1992.
But in the aftermath of the 1980 coup attempt by the rightist Reform
the Armed Forces Movement, the Philippine economy remained
stagnant.
Nevertheless, the administration borrowed an additional $9 billion,
increasing the national debt by $5 billion within six years time since
the ouster of former President Ferdinand Marcos in 1986.
It was crucial for the economy at that time to regain the investors
confidence in the Philippine economy

Group 1
( TTh 4:00 5:30 )

Group 2
( TTh 4:00 5:30 )

Michael C. Diputado
Alyssa Rose Colata

Andrew Benedict C. Pardillo

Mary Rose Sunga

Mary Joy Rudas

Anthony Campomanes

Rusjem Lee Amparado

Angelika Sara