A Business Statement on the
Current Political Situation

From the Makati Business Club and the
Management Association of the Philippines

15 June 2005 - Over the last week, a series of events have unfolded which have given rise to the impression that there are destabilization efforts in the country once again. These events -- an ongoing investigation of jueteng and charges of alleged wiretapped telephone conversations between the President and a COMELEC Commissioner -- have coincided with the poor ratings given in public opinion surveys for the President and her anti-corruption efforts, in particular.

We appeal to the politicians and the media to exercise calm and common sense in both matters.

With respect to the jueteng investigation, it is important that evidence and facts be brought to light on the matter. If enough evidence surfaces and is brought out in the open, we would recommend that the appropriate charges be filed in court so that a formal trial can proceed and perpetrators be brought to justice.

With respect to the alleged wiretapped conversations, we must all verify if the tapes and the conversations are indeed authentic before coming to conclusions. The best way to determine if the tapes are genuine is for the President to immediately allow a credible third-party to analyze the tapes and deliver a report which shall be made public. In this way all questions about the tape will be answered.

In the meantime, we urge people to protect our Constitution and to support the duly-elected Government. Our defense of Democracy and Justice must be buttressed by our search for truth and facts. Engaging in accusation and allegation without substantiation by facts will only lead to more problems in the future.

Above all, we wish to emphasize that all public officials must be held accountable for their actions. It is incumbent upon the President to answer any charges directed against her as it is for the Opposition to be held accountable for any of its allegations that it cannot prove.

The consequence of all these political charges has been to distract people’s attention and energy away from other pressing problems such as the economy. Current gains in the economy, including the passage of vital tax legislation, an aggressive campaign against tax evaders, improved international credit ratings, and a rebound in export earnings for the country have all gone unnoticed amidst all the political noise. Moreover, the immediate impact of this crisis on the economy has been a sharp drop in the peso’s value against the dollar as well as a decline in the stock market. If this crisis continues, there is no telling what long-term effects this will have on investments, trade, and job-creation efforts. We must not forget that our ultimate challenge is to beat poverty by strengthening the economy and creating jobs.

Thus, we call on people to exercise sobriety and informed judgment before coming to conclusions on these charges.