The Philippine Economy

Authors

  • Charles W. Lindsey

DOI:

https://doi.org/10.14452/MR-036-11-1985-04_3

Keywords:

History

Abstract

The assassination of former Philippine Senator Benigno Aquino in August 1982, within minutes of his return to Manila from exile in the United States, precipitated the most severe crisis in the Philippines since independence. Today the country remains stalled in an economic and political morass. Demands for the ouster of President Ferdinand E. Marcos and changes in the economic policies of the country persist. The regime appears to have reached agreement with the International Monetary Fund (IMF) and transnational banks to restructure the country's international debt, but it is doubtful that the mass of Filipinos will willingly accept the retrenchment that such an accommodation demands. The recent report of the commission of inquiry into the Aquino assassination includes high-ranking military officers with close connections to Marcos among the conspirators. Few believe that the military would have assassinated Aquino on its own initiative; thus Marcos' credibility has been eroded even further. In addition, Marcos is not a well man (he is reported to be suffering from lupus erythematosus).

Published

1985-04-03

Issue

Section

Articles