The Aquino family has been involved in Filipino politics for generations. His father Benigno Aquino was an opposition senator in the Marcos era assassinated in 1983 as he stepped off a plane in Manila after returning from exile. Aquino senior’s death pushed his wife Corazon Aquino into the spotlight and she won the presidency when Marcos’s 20 year regime was ended three years later. Benigno, known as “Noynoy”, was wounded during a failed coup attempt in 1987 but steered clear of politics during his mother’s six year presidency. By 1998 the lure of getting involved in the family business was strong and Noynoy won a seat in the House of Representatives, Philippines’ lower house. He worked his way up in parliamentary committees and served the maximum three terms. In 2007 he moved to the Senate with his mother’s endorsement in TV ads. While his profile was increasing no-one spoke of him as presidential material until Corazon Aquino died on 1 August 2009 after a year long battle with cancer. The “Noynoy Phenomenon” took off as the country mourned his mother. He secured presidential nomination against party chief Senator Mar Roxas and his presidential campaign was propelled by the Noynoy Aquino for President Movement, a rainbow group of lawyers and activists.The Huffington Post’s Virginia Moncrieff said Aquino appears the most unlikely person to win an election by a landslide given his “penchant for badly fitting shirts, dorky hair style, and complete lack of personal charisma.” Moncrieff called Aquino the “comfort candidate” who campaigned heavily on a message of anti-corruption. “In a country where crooks, charlatans, film stars, sportsmen and nut jobs routinely stand for, and get voted into office, Mr. Aquino represented a steady and secure vote,” Moncrieff said.
Aquino’s victory was declared in remarkably short order. In a country with 7000 islands, it used to take weeks to tally the votes, but a new electronic voting system made his win apparent 16 hours after the polls closed. Aquino campaigned on pledges to investigate electoral fraud, corruption and rights abuses by the outgoing administration. He says he will investigate his predecessor Arroyo for corruption. “We need to have closure on all items like the fertiliser scam. Who is responsible for this? Let’s also look at the ZTE.” In both cases, Arroyo has been associated with allegations of overpaying for deals and diversion of funds.
News of Aquino’s victory has buoyed international markets with Moody’s saying it sets a favourable tone for the country’s credit fundamentals. Christian de Guzman, a Singapore-based Moody’s assistant vice president and analyst, said Aquino’s comfortable win removed undercurrents of political illegitimacy that hampered Arroyo’s policy agenda. “The success of the first fully automated polls in Asia on Monday is at this time of greater relevance than the result itself, implying a strong mandate to govern for the victor,” de Guzman said. Last year Moody’s upgraded the Philippines’ rating prompted by the country’s strong external payments position and stability in the banking sector. These conditions will continue to provide support to the Philippines’ rating over the next two years.