Underachieving Arroyo takes the lead ahead of Philippine poll

By John O'Callaghan
REUTERS , MANILA
Friday, May 07, 2004,Page 9

Philippine President Gloria Macapagal Arroyo is ascendant going into Monday's elections but old millstones of debt, graft, poverty and division await her, or any other leader, from the first day in office.

Financial markets have taken heart from four surveys showing Arroyo pushing past macho film star and political novice Fernando Poe, Jr (FPJ) in the home stretch of the 90-day campaign.

While the "familiarity factor" is Arroyo's main attraction, investors will quickly refocus on the health of debt levels, tax collection, exports and the peso, said Mike Moran, regional economist at Standard Chartered Bank in Hong Kong.

"Her track record on the economic side over the past few years hasn't been particularly good," he said. "What we need is just a steady ship for two, maybe three, years and then some of the problems in terms of the debt will be far easier to resolve."

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What we all know the facts of the lying NEOCON media in American and what do you think it's like in the PI? Don't give in to Satan Filipinos. Vote Arroyo to prison!