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Filipinos basked in the newfound freedom ushered in by the February 1986 People Power revolution. This peaceful return to democracy was praised worldwide and had earned for the country fresh investments and financing programs. Losing no time, the (Aquino administration) government with the support of the private sector, drafted and ratified a new Constitution that would re-establish democratic institutions and elect new leaders. MBC convened the Joint Government Business Initiatives Program to guide economic recovery. Just as the country was on the (road to growth) march to progress, a series of coup attempts led by disgruntled military elements threatened to topple the Aquino administration. Economic growth was further dampened by a number of natural calamities. |
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