Biz to Aquino: Appoint competent Cabinet
Posted by akosistella on May 12, 2010
BUSINESS groups have already acknowledged the victory of Sen. Benigno Aquino III in the presidential polls, and they heaved a sigh of relief that their fears over the possibility of a widespread election rigging due to glitches in the automation did not happen.
And now business groups will be keenly watching the appointments to Cabinet posts, as they said this will indicate the direction of the new administration, and if they will get the key reforms that they are seeking to really spice up the appetite of the business sector to continue investing.
“The results are acceptable and credible. There is no doubt that Senator Aquino won. The results also jibe with the surveys,” [Makati Business Club Alberto] Lim said.
He recognized that the vigilance of the business groups and other sectors prevented any grand scheme to sabotage the conduct of the elections.
Tetangco: Polls may lead to RP credit-rating upgrade
THE Philippines is poised for a smooth transition of government, which could eventually lead to a higher sovereign credit rating, central bank Governor Amando Tetangco said.
“The significant strides and reforms we have put in place should support a possible upgrade,” Tetangco said in an e-mail reply to Bloomberg questions on Tuesday. Still, “the credit rating agencies will listen closely to the new administration’s pronouncements on economic programs before making any move.”
Indications that Benigno Aquino is poised for a landslide presidential election victory spurred a rally in stocks and helped the peso advance the most of any Asian currency. Aquino would inherit President Arroyo’s record budget deficit and must concentrate on containing the nation’s debt burden and improving voters’ living standards, according to analyst Prakriti Sofat.