Impact of Quirino And Magsaysay on Philippino Economy

Categories: EconomyPolitics

Elpidio R Quirino

  • First term: April 17, 1948-December 30, 1949 (succeeded)
  • Second term: December 30,1949-December 30, 1953 (elected)
  • November 16, 1890 – February 29, 1956

"Every epoch has its own heroes and every hero has his own epoch." – E. Quirino

Accomplishments/Achievements:

  1. The establishment of the Agricultural Credit Cooperative Financing Administration (ACCFA) to help farmers market their crops and save them from usurers.
  2. The establishments of rural banks in the provinces to give load to farmers at low interest rates.
  3. The creation of new government agencies to handle labor problems and to take care of and distribute relief to poor families as well as to the victims of natural disasters such as fires, floods, and typhoons.

  4. The conclusion of the Quirino-Foster Agreement to further intensify the economic development of the country.

This agreement provided for a Philippine-American partnership in the economic development of the country, wherein the United States furnish funds and technical advisers, and the Philippines will furnish labor and provide counterpart funds. All economic projects were to be jointly supervised by the Philippine Council for US Aid and the Foreign Operations Administration (FOA).

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Issues Encountered

  1. The elections wherein Quirino won was believed to be the most corrupt.
  2. First president to undergoe an impeachment trial because he allegedly purchased a very expensive Golden Orinola using government money.
  3. Permitted immorality in the armed forces.
  4. Neglected the problems of the people.
  5. Involved himself to the American government which made him compliant of to international economies.

Ramon F Magsaysay

  • Term: December 30, 1953-March 17, 1957
  • August 31, 1907 - March 17, 1957

“A leader should set an example of a big heart, an honest mind, sound instincts, the virtue of healthy impatience and an abiding love for the common man.

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” – R. Magsaysay

Accomplishments/Achievements

  1. Took charge of peace negotiations with the HUKBALAHAP rebels, remnants from World War II.
  2. He and Benigno Aquino, Jr (a.k.a. Ninoy) personally went up to the mountains to visit the Huks and earn their trust. This gesture gratified them, and later on during Magsaysay’s term as president, Luis Taruc, leader of the Huks, surrendered.
  3. Signed the Bell Trade Act, cutting off the last vestiges of American influence on Filipino economy.
  4. Established the National Resettlement and Rehabilitation Administration and the Court of Agrarian Relations to resolve land disputes.

Issues Encountered

  1. Corruption among cabinet members and the endless attempts to bribe the president were the most common issues of that time where corruptions was very rampant among government officials and President Magsaysay was among the very few who resisted and had zero tolerance against corruption.
  2. The president who had zero tolerance for corruption even simple signs of not having a clean government he would put a stop on to it especially with his relatives. Like when his brother planned to start a law firm, the president refused for it will draw shady dealings for the firm will be run by the president’s brother.
Updated: Jul 06, 2022
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Impact of Quirino And Magsaysay on Philippino Economy. (2016, Apr 22). Retrieved from https://studymoose.com/impact-of-quirino-and-magsaysay-on-philippino-economy-essay

Impact of Quirino And Magsaysay on Philippino Economy essay
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