Search results
Results From The WOW.Com Content Network
The Philippine economic nosedive of 1983 traces its roots to debt-driven growth, mostly during Marcos' second term and during the earliest years of martial law. [1] By 1982, the Philippines’ debt was at $24.4 billion, [ 1 ] but it had not seen much in terms of returns because of corruption and the poor management of the crony-monopolized ...
During the campaign, Marcos had spent US$50 million for debt-funded infrastructure, triggering the 1969 Philippine balance of payments crisis. [10] The Marcos administration ran to the International Monetary Fund (IMF) for help, and the IMF offered a debt restructuring deal. New policies, including a greater emphasis on exports and the ...
Foreign borrowing was a key element in Philippine development strategy during the Marcos era. The primary rationale was that "borrowed money would speed the growth of the Philippine economy, improving the well-being of present and future generations of Filipinos". [citation needed] Debt-driven growth, 1970–1983
The 21-year period of Philippine economic history during Ferdinand Marcos's regime – from his election in 1965 until he was ousted by the People Power Revolution in 1986 – was a period of significant economic highs and lows.
Because the Marcos administration's spending had relied so heavily on debt since the Marcos family's first term in the 1960s, [23] the Philippines was left vulnerable when the US economy went into recession in the third quarter of 1981, forcing the Reagan administration to increase interest rates. [24]
(Bloomberg) -- The Philippine currency plunging to a record low and inflation at a four-year high have taken centerstage in the early days of President Ferdinand Marcos Jr’s term, risking faster ...
Masagana 99 was an agricultural program of then Philippine President Ferdinand Marcos to increase rice production among Filipino farmers. [1] [2] [3] The program was launched in 1973 at a time the country was experiencing a rice supply shortage.
Marcos was proclaimed winner of the election in November 1969, and was inaugurated to his second term just before the new year, on December 30, 1969. The social impact of the 1969–1970 balance of payments crisis very quickly led to social unrest – so much so that Marcos went from winning the elections by a landslide in November to dodging effigies by protesters just two months later, in ...