New president, weaker reform prospect—Japanese firm
Posted by akosistella on May 3, 2010
MANILA, Philippines—Japanese financial giant Nomura sees a higher probability that the Philippines’ upcoming elections will yield a new president but also warned that a tough political environment could weaken economic reform prospects.
“We believe a complete failure of the automated elections is unlikely, but they are unlikely to be smooth sailing either,” Nomura International (HK) Ltd. said in an Asian economic report dated April 30.
Nomura assigned a 60 percent probability that 60-70 percent of precincts across the country would successfully implement automated counting. The remaining 30- 40 percent was seen either experiencing delays or resorting to manual counting.