MANILA, Philippines - Top economists from various institutions, decrying what they call the “failure of governance,” threw their support behind the presidential bid of Sen. Benigno Aquino III in the belief that he represents their “best hope for change.”

“We believe the failure of governance is the main obstacle to the country’s long-run economic growth and ability to respond to the people’s most urgent needs,” a joint statement signed by over 40 Filipino economists said.

“It is time the Philippines once more had a leader who embodies the spirit of heroism and integrity we share as Filipinos. We are convinced that Sen. Noynoy Aquino is that leader,” it added.

Leading the signatories were Michael Alba, former dean, College of Economics and Business of De La Salle University; Fernando Aldaba, former chairman, Department of Economics of Ateneo de Manila University; and Filomeno Santa Ana III, national coordinator, Action for Economic Reforms.

According to the Economic Agenda Team of Aquino, among those who also signed up were former National Economic and Development Authority director general Cayetano Paderanga, Raul Fabella, Mryna Austria, Edita Tan, Vicente Paqueo, Teresa Jayme-Ho, Germelino Bautista, Maria Socorro Gochoco-Bautista, Gilberto Llanto, Erlinda Medalla, Gwedolyn Tecson, Ernesto Pernia, Leonardo Lanzona Jr., Fidelina Natividad Carlos, Carlos Bautista, Edsel Beja Jr., Emmanuel Esguerra, Ruperto Majuca, Melanie Milo, Jose Ramon Albert, Rhoelano Briones, Rafaelita Aldaba, Rosalina Tan, Danilo Venida, Allan Borreo, Alexander Narciso, Meldin Al. Roy, Jessica Cantos-Reyes, Joseph Francia, Emilio Neri Jr., Cristina Bautista, Philip Arnold Tuano, Romelia Neri, Reuel Hermoso, Joselito Sescon, Marilou Perez, Paolo Jose Mutuc and Sarah Grace See.

In batting for Aquino, the economists pointed out that, “Low growth, high poverty, big public deficits and deep public cynicism are the bitter fruits of failed governance and weakened institutions.”

“The call for a higher standard of public ethics, therefore, is not some abstract moral preference—it is an imperative for survival and development….We believe that among the presidential candidates, Senator Aquino represents the best hope for such a change,” they added.

Loren asked to withdraw

This developed as Sen. Loren Legarda, running mate of Nacionalista Party (NP) standard-bearer Sen. Manuel Villar, revealed that their LP rivals “tried to broker a deal” for her to withdraw from the race, naming the Liberal Party (LP) vice-presidential bet Sen. Mar Roxas II as the one who conveyed the offer to her.

Legarda said the offer was made sometime before the Senate adjourned last month. “Back when I had yet to find my running mate, Mar [Roxas] tried to make an arrangement with me outside of the political process,” she said.

Legarda recalled the incident occurred inside the session hall, quoting Roxas as saying: “If there’s any way that you can support my principal [Aquino] and me, if there’s anything you want, we can provide.”

But LP stalwart Chito Gascon quickly denied the allegations against Roxas, arguing that it was not believable since Legarda “could not even remember the date when it happened.”

‘Jamby in wonderland’

NP senatorial bet Gilbert Remulla, meanwhile, revealed that independent presidential aspirant Maria Consuelo “Jamby” Madrigal was “seeking favors from the LP in exchange for attacking Senator Villar’s alleged involvement in the P6-billion C-5 Road Project scandal, for which Villar was sought to be censured by Senate colleagues.

Remulla said, “Madrigal’s continuing tirade of lies and mudslinging against Villar comes with a price tag: a Cabinet position should Aquino win in the May 10 elections.”

“Jamby Madrigal can best be described as a ‘suicide bomber in yellow.’ It is apparent that she is in the campaign not as a candidate but as mouthpiece of the Liberal Party,” Remulla added.

In a separate interview, Madrigal claimed that she was offered P1 billion to stop her from filing corruption charges against Villar.

But NP leaders laughed off Madrigal’s allegation as “ludicrous.”

“Jamby is in wonderland as she unleashes again her wild and wayward imagination. Senator Villar will not and will never do such a thing. Her claim is ludicous,” NP senatorial bet Adel Tamano said.

“With her whopping ‘P1-billion’ revelation, she has officially become the laughing stock of the political community. She should be declared a nuisance candidate for being what she really is—a nuisance,” Tamano said, adding that Madrigal is “making a mockery of the electoral exercise by running for president and then using her candidacy to discredit one candidate alone.”

Pork barrel for local govts

Underscoring the need for local governments to enhance their full contribution to national development, Lakas-Kampi-CMD standard-bearer Gilbert Teodoro said on Wednesday that if elected president, he would study the feasibility of allowing the local governments to handle their own pork-barrel funds.

“The real strength of a truly developed country lies not in its national government but on the ability of its local governments to act as progressive elements of change and development,” Teodoro said.

He noted that only the local government officials know what priority projects are needed in their respective areas that give maximum benefits to their constituents.

Teodoro explained that the handling of pork-barrel funds should be given to the local governments, since the primary role of legislators is to craft laws that would help in furthering developing the country and its people.

“But this should be done once our country has attained full economic and political stability,” he said.

He also pointed out that a watchdog mechanism should be instituted to prevent unscrupulous local officials from pocketing the pork-barrel proceeds and using the public funds to enrich themselves or their cronies.

Bets asked to bare plans for microentrepreneurs

Ang Kasangga sa Kaunlaran Inc. (Ang Kasangga) on Wednesday urged presidential candidates to lay down their concrete plans for the growth and development of microentrepreneurship, which has become the backbone of the country’s economy.

Lawyer Norman Tayag, secretary- general of Ang Kasangga, sounded the call, as he revealed that he has yet to hear from the present roster of presidential candidates from different parties about their plans for both formal and informal microentrepreneurs.

“Our hardworking and honest microentrepreneurs are the new heroes of our times. The role they play is crucial in uplifting the country’s economy and, therefore, they deserve all our support,” he said at the regular news forum in Illustrado, Manila.

“The sector of microentrepreneurs absorbs unemployed members of our society, those unable to find jobs in the open market. They also provide input to the formal sector, ranging from manufacturing parts and supplies, to labor for production,” he added.

In 2006 alone, 99.7 percent of all Philippine businesses were classified as micro, small and medium enterprises (MSMEs). Of these, 92 percent fell under microenterprises generating a total of 1,667,823 jobs, or 33.5 percent of all jobs created by the MSME sector in 2006.

Tayag explained that microentrepreneurs need to be supported and protected by law because most of them, especially those in the informal sector, have no access to bank loans, no formal training in business management and lack of social protection.

“We hope that with the passage into law of the Magna Carta for MSMEs two years ago, our micro-entrepreneurs will be protected. Ang Kasangga, which represents microentrepreneurs, will work hard to ensure that it is properly implemented,” he added.

(With R. Acosta)