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If Binay becomes President, he could undermine the reforms set by the Aquino administration.
That’s according to the reports of Washington-based Institute of International Finance, which said that Sen. Grace Poe or DILG Secretary Mar Roxas becoming president would be good for the Philippine economy.
“Amid uncertainties due to next year’s national elections as well as stock market and debt troubles in China and Greece, respectively, IIF lowered its 2015 economic growth forecast for the Philippines to 6.1 percent from 6.3 percent, according to its latest Global Economic Monitor issued on July 15,” reports Ben O. de Vera on Inquirer.net.
In a separate report, it also said that the ‘elections could prove challenging to the country’s economic transformation in recent years.’
According to them, “the typical pre-election infrastructure investment surge would favor Interior and Local Government Secretary Manuel Roxas.”
The IFF also noted that Poe has recently emerged a potential contender.
But here is where it gets sour for Binay: “If the more populist Vice President Jejomar Binay wins, he could undermine the government’s PPP strategy if/when he takes office.”
Ouch!
According to the Inquirer report, the “IFF claims to be the leading global association of financial institutions, with close to 500 members from more than 70 different countries. It’s members include banks insurance companies asset managers, sovereign wealth funds, pension funds, central banks, and world banks.”
