In: Other Topics

Submitted By waynsumbillo
Words 780
Pages 4
Prior to the Ramos Presidency, there were many coup d’état attempts and uprisings during the Aquino administration. This lead to a destabilized government. Politics were shaken and people started to lose their trust in the government. During the Ramos administration, civil liberty and government stability was restored.
The Philippines was recovering from economical difficulties that arose from the lack of foreign investors during the Aquino administration. Because of the Coup attempts, foreign investors felt it was risky for them to invest in the Philippines, thus, economy wasn’t booming. (Aquino Administration) During the Ramos administration however, the Philippines took pleasure from economic growth and stability. Though the Asian Financial Crisis of 1997 struck, the Philippines wasn’t as badly affected as other Asian Nations. During this crisis, the Philippine Peso devaluated and dropped because of a fiscal deficit. The people of the Phlippines needed to be empowered to think economically for the betterment of the economy. Also, prior to Ramos’ policies and laws, the Philippines was experiencing frequent brownouts lasting up to twelve hours due to old and ancient power plants
Peace was made with the Mindanao Hostiles. Ramos became instrumental in securing the peace agreement with the Muslims.
A strong campaign for nationalism in preparation for the centennial anniversary of the Philippines was present.
PRIMARY PROBLEMS Asian Financial Crisis
In 1997, the Philippine economy plunged because of the Asian Financial Crisis. The annual growth rate of the Gross National Product fell in 1998 as compared to 1997.
Power Crisis
The Philippines was experiencing widespread and frequent brownouts because of the huge demand for electricity and the old and depreciated power plants.
Republic Act 7638 (Charter of the Department of…...

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