Wednesday, June 30, 2010

The President's economic team

Yesterday afternoon, while attending a round-table discussion on the global public debts, I was interviewed by Ms. Cai Ordinario, reporter for the business paper, Business Mirror. Her querry was about my reaction to the economic team of the new Philippine President, Benigno "Noynoy" Aquino.

Below is a portion of her report.

Economists approve of new economic team

"AFTER President-elect Benigno Aquino III unveiled his new economic team on Tuesday, local economists and former economic managers gave their approval of the incoming President’s choices....

Academician and former president of Philippine Economic Society Dr. Fernando Aldaba said the President chose a “team heavy with experience and integrity.” The team, he said, is likely to maintain macroeconomic stability and improve the country’s investment climate....

For his part, economist Bienvenido Oplas, president of independent think tank Minimal Government Thinkers, said the choice of the new economic team is not really important. What is important, Oplas said, was who the President was.

Oplas said after nine years of the Arroyo administration, so much negativity and hopelessness enveloped the economy. But with the new government, the economy can expect a more positive outlook.

He is also hoping that the new economic team will exert efforts to liberalize the economy more. But Oplas said the more important thing now is that there is a change in government which will revive hope among Filipinos."

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