Philippine election
The collective sigh of relief that began in Makati, the Philippines' financial center, and is now resonating throughout all quarters of Filipino society has been reflected in the financial markets, which recently touched four-year highs on the prospects of an Arroyo Administration in power until 2010.
As one investment analyst noted, it is no coincidence that the stabilizing of the interest rate, the strengthening of the peso and the firming up of the stock market comes on the heels of the steady stream of polls confirming that the gap is progressively widening in favor of incumbent Philippines President Gloria Macapagal-Arroyo over the actor Fernando Poe Jr.
Much more is at stake in this country's May 10 national election than most pundits and political observers may fully realize. A victory by President Arroyo in the upcoming election would mark a watershed for Philippine politics. This "come-back kid" of Asian politics, ruled down for the count just a few months ago, is back, having managed to focus all segments of Philippine society -- rich and poor alike -- on real issues, while pulling the plug on the spotlight illuminating the tinsel- tinged glitter of movie-star speak.
President Arroyo is the lone candidate who recognizes that the electorate -- regardless of social and economic standing -- has matured to the point where it now places a premium on issues and the ability to deliver solutions rather than on popularity and a shaky platform long on intentions but short on substance. If elected, this would provide President Arroyo the opportunity to validate the growing political maturity of the Filipino electorate and thus change the political landscape from one that is based on substance rather than on personality and name recall.
Despite its many difficulties and shortcomings, more people view the Arroyo Administration's accomplishments as a glass that is half full rather than half empty. And with good reasons -- while the Arroyo Administration created 3 million more jobs than the previous government in just three years and invested in the necessary reforms to put our country in working order again, we are only finally seeing the results of these efforts.
That sigh of relief is being felt from more than the prospect of continuing economic and domestic rebuilding; the President has recovered the nations global voice. In October 2003, she engineered the return of the Philippines to the UN Security Council for the first time in 25 years.
The President is at the forefront fighting against domestic and global terrorism. She has reinvigorated and modernized our international relationships including that with its most important ally, the U.S.
ROBERTO R. ROMULO, Former Secretary of Foreign Affairs, Presidential Senior Advisor, Makati City, Philippines