Cory aquino biography

The debt had badly tarnished the international credit standing and economic reputation of the country. President Aquino inherited the debt of the Marcos administration and weighed all options on what to do with the debt, including not paying the debt. Aquino eventually chose to honor all the debts that were previously incurred in order to clear the country's economic reputation.

Her decision proved to be unpopular but Aquino defended it, saying that was the most practical move. This move also ensured lower interest rates and longer payment terms for future loans. President Aquino envisioned agrarian and land reform as the centerpiece of her administration's social legislative agenda. However, her family background and social class as a privileged daughter of a wealthy and landed clan became a lightning rod of criticisms against her land reform agenda.

After the Mendiola Massacre and in response to calls for agrarian reform, President Aquino issued Presidential Proclamation and Executive Order on July 22, , which outlined her land reform program, including sugar lands. Landowners were paid in exchange by the government through just compensation , and were also not allowed to retain more than five hectares of land.

Instead of land distribution, Hacienda Luisita reorganized itself into a corporation and distributed stock. As such, ownership of agricultural portions of the hacienda was transferred to the corporation, which in turn, gave its shares of stocks to farmers. Critics argued that Aquino bowed to pressure from relatives by allowing stock redistribution in lieu of land redistribution under CARP.

The Department of Agrarian Reform had looked into its revocation since , when violence erupted in the hacienda over the retrenchment of workers, leaving seven people dead. You can help by adding to it. June From to numerous coup attempts were enacted on the Aquino administration and the new Philippine government. A year later, she was diagnosed with cancer.

On August 1, , Corazon Aquino passed away. A few months later, her son was elected president of the Philippines. Unfortunately, she did not live to see him win. Works Cited Engel, Keri. June 09, Harvard Divinity School. Accessed August 20, Iyer, Pico. January 05, Nadel, Laurie. Corazon Aquino; Journey to Power. Messner, Presidential Museum and Library.

After Marcos declared himself the winner of the elections, Aquino called on the people to resist. According to the opposition's count, Aquino had a lead of 1. On February 25, , two inaugurations took place - one for Aquino and one for Marcos. However, on the same day, Marcos fled the country and Aquino was officially proclaimed as the President of the Philippines.

One of Aquino's first actions as president was the release of political prisoners. In February , a new constitution was adopted and parliamentary elections were held.

Cory aquino biography

A power vacuum would ensue as the Commission of Elections and its watchdog organization produced conflicting tabulations. Eventually, the "People Power Revolution" would vanquish the dictatorship. However, her conservative positions and political inexperience prevented her from introducing critical socioeconomic reforms. Seven attempted military coups destabilized her leadership; the most violent one in nearly toppled it.

In Aquino presided over a peaceful transfer of power to Fidel V. Ramos b.