Word: arroyos
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...Please, all the men in the country, so that I won't be rude to you, do not attempt to kiss me." GLORIA MACAPAGAL ARROYO, President of the Philippines, addressing affectionate male citizens who often greet her with kisses on both cheeks...
...Arroyo, who trained as an economist at Georgetown University, declared in her State of the Nation address last month that her priority is to fix the economy "before it finds itself beyond hope of repair and [the Philippines is] doomed to share the fate of failed nations." She has followed up with a broadside of proposed reforms to eliminate the national budget deficit in six years, including eight new tax measures and other initiatives that she estimates will raise an extra $1.8 billion annually. She wants to change the corporate tax code so that amounts owed would be determined...
...Bureau of Internal Revenue has battled tax cheats and rampant corruption, trying to fix a dysfunctional tax system that is so full of holes the country's solvency is threatened. Tired of fighting a losing battle, Parayno finally gave up in late July: he called President Gloria Macapagal Arroyo and resigned. "There are still many leakages that have to be plugged," he told Arroyo. "I worry that I won't be able to respond to the expectations of me." But the tough-minded President, who had just been re-elected to a new, six-year term, wasn't prepared...
...Arroyo knows better than anyone that raising government revenue is one of the crucial challenges her administration faces if she is to keep her electoral-campaign promise to improve the lives of the nation's working poor?and to avoid a potentially disastrous economic crisis. The Philippine economy has long been one of Asia's worst performers, left in the dust while neighbors Thailand and Malaysia have raced ahead. Over the past five years, Philippine GDP growth averaged 3.9%, compared with 6.5% for other developing countries across the region. Chronically high unemployment (currently 13.7%) means about one out of every...
...promised cash-strapped Manila this year, and U.S. Secretary of State Colin Powell said that the two countries "remain friends." But how the pullout "might affect our policies in the future remains to be seen," he added. Asiri Abubakar, a political scientist at the University of the Philippines, called Arroyo's decision a big gamble: "The administration may be celebrating now, but maybe not in the long run." Arroyo may have traded foreign support for cheers at home...