Gloria Macapagal-Arroyo GMA has quickly shown her free market tendencies with the appointment of her economics, finance and budgetary team. Technocrats, democrats and free marketers, they should impress international investors that the Philippines is determined to reform. Whether the local leftist activists who helped sweep Macapagal-Arroyo to office will like it, is another matter.
Pushing for free market
As early as Saturday, right after she took her oath of office as President of the Republic, GMA started to name her cabinet. Most of these executives have track records in free market advocacy.
The key appointment of Alberto Romulo as Finance Secretary was welcomed by the local business community. Romulo was previously the Department...