- Presidential Communications Secretary Martin Andanar stated that the Philippines was the fastest growing economy during the second quarter of 2016, which was still under the Aquino administration
- This came about after S&P’s gave the Philippines a red flag in terms of stability and predictability in policymaking
- President Duterte remained indifferent to the rating and told foreigners to leave the country
The Philippines recently received a red flag from Standard and Poors (S&P’s), an acclaimed financial services company that analyzes the economy of countries all over the world.
President Duterte, known for his strong words and acid-tongue, dismissed the news and said, “so be it.” He even lashed out at foreigners and told them to “leave!”
On the other hand, Martin Andanar, the Presidential Communications Secretary was more diplomatic and admitted that the Philippines was the fastest growing economy during the second quarter of 2016, which was still under the Aquino administration.
Andanar said, that they welcome the decision of S&P, since it gives the present administration the chance to make the economy more “robust, sustainable and inclusive.”
According to Andanar, “The fundamentals of the economy are solid and strong.”
Since the warning given by S&P primarily revolves around the death toll relative to the government’s drug war, Andanar was quick to defend the government’s actions and stated that the focus of the President to improve law and order will “enhance the country’s image” and attract more foreign investments.
S&P does not share the same enthusiasm with Andanar.
S&P said that the numerous extrajudicial killings that hounded the country since Duterte came to power “could undermine respect for the rule of law and human rights.”
S&P added that such presents a direct challenge to basic democratic institutions, the media and the legitimacy of the judiciary.
The financial services company also noted that when such events are combined with the policy pronouncements of the President, the country’s predictability and stability of policy making has “diminished.”
In addition, the EU Parliament called on the administration to “put an end to the wave of extrajudicial killings” citing the commitment that the Philippines made in 2014 with the EU under the Partnership Cooperation Agreement where both parties agreed to advance engagement on “trade, security, environment and human rights issues.”
The EU also urged member countries that have bases in the Philippines to keep a close watch on the development of the extrajudicial killings in the country.
Despite all these, President Duterte remains indifferent and said “wala akong pakialam sa inyo (I don’t care about you).”