Manila (Reuter) — The armed forces, the institution that has held the Philippines together over the past year, has emerged at war with itself after Thursday’s face-saving solution to an insurrection by 400 rebel soldiers, analysts said. Western diplomats and military experts said that Tuesday’s coup attempt and its compromise with a rump of 190…
Manila (Reuter-Kyodo) “Who goes there friend or foe?” That traditional challenge has acquired new meaning here after the recent uprising by elite soldiers who helped President Corazon Aquino to power last year, analysts say. A senior army officer who did not wish to be identified said the coup bid had proved loyalty to an individual…
Chaitanya Kalbag, Reuters The Philippine economy is expected to continue to grow in 1987 after a modest upturn in 1986, but a major revival depends on an end to political uncertainty, bankers, economists, diplomats and businessmen said. Economic Planning Minister Solita Monsod has said the gross national product (GNP) grew 0.13% in 1986 after declining…
Reuter When Corazon Aquino pledged retribution Tuesday for the latest coup attempt against her, she also proclaimed the finality of her transformation from hesitant housewife to leader of a tumultuous nation. For a woman who said her family was her greatest pleasure and agonized over entering politics in the shadow of her slain husband, Benigno,…
Reuters News Service MANILA — The Philippines, once Southeast Asia’s second-richest nation but now its second-poorest, claims it is poised for an economic boom in 1987 after three years of precipitous decline that has drained millions in poverty. Government officials, buoyed by rising foreign exchange reserves and single-digit inflation, have begun the new year on…
MANILA: A government-appointed special prosecutor yesterday ordered the filing of corruption charges against Philippine Central Bank Governor Jose Fernandez, who said he would contest them. Ombudsman Raul Gonzalez said there was evidence to indicate that Mr. Fernandez had misused his office in ordering the closure of the private Pacific Bank in July, 1985. He said…
US ‘interference’ charges spur soul-searching in Manila MANILA —The recall of a US military diplomat from the Philippines underlines the love-hate ties between the two countries but also points to a new direction in Manila foreign policy, analysts said Wednesday. The US Embassy’s announcement that assistant army attache Lt Col Victor Raphael would depart this…
Philippine investigators recover millions by seizing funds of ex-leader’s ‘cronies’ MANILA Former President Ferdinand Marcos-and his associates still control vast amounts of funds circulating in the country’s economy, the head of a government panel tracking the ousted leader’s “hidden wealth” said Sunday Ramon Diaz, chairman of the Presidential Commission on Good Government, said in an…
6 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 6 – The options available in solving the global debt crisis had broadened dramatically with U.S. government backing of a Mexican plan to retire a large part of its foreign debt, Philippine Finance Secretary Vicente Jayme said. “I feel that the Mexican package…
17 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 17, Reuter – Monday’s local elections are billed as President Corazon Aquino’s last step in returning the Philippines to democracy, but bloody campaigning has left many here wondering if there has been genuine change. Analysts polled by Reuters said the elections would bring…
19 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 19, Reuter – The Philippines has emerged from a tumultuous year with democracy apparently firmly in place after Monday’s local elections, but there is no euphoria among analysts over the country’s economic prospects. The economy has turned in its best growth in seven…
20 January 1988 The Globe and Mail B24 English All material copyright Thomson Canada Limited or its licensors. All rights reserved. The Philippines has experienced its best growth in seven years, but it still faces a daunting array of problems. Analysts say President Corazon Aquino must now demonstrate that she can manage the economy. …
22 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 22, Reuter – The United States is committed to helping the Philippines achieve economic recovery by stepping up investments, keeping its doors open to imports, and maintaining the flow of aid, Ambassador Nicholas Platt said on Friday. He told a meeting of American…
2 June 1987 Chaitanya Kalbag/ Reuters English (c) 1987 Reuters Limited MANILA, June 2, Reuter – The World Bank’s policies prevent it lending money to the Philippines for the transfer of land from landowners to the poor, but it can help finance subsequent development costs, a bank official said today. “The World Bank by its…
4 September 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Sept 4, Reuter – President Corazon Aquino said on Friday democracy had taken one step forward and two steps back since she took power in the Philippines but vowed to continue fighting for her ideals. Ringed by tight security, the embattled leader visited military…
16 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 16 – Japanese Prime Minister Noboru Takeshita promised President Corazon Aquino he would speed up assistance to the Philippines and soften terms for bilateral aid, a Japanese government spokesman told reporters. Takeshita and Aquino signed an agreement on an 80.2 billion yen loan…