Philippine President Says She Won’t Seek New Term

In a surprise announcement, Philippine President Gloria Macapagal Arroyo said today that she will not seek a new term in elections due in 2004. She cited the potentially divisive effect of a campaign as her reason for bowing out.

Arroyo was elected vice president under President Joseph Estrada but took over the top job in January 2001 when he was ousted in a popular revolt. Estrada is now on trial for corruption.

“Since I am one of the principal figures in the divisive national events in the last two or three years, our political efforts would result in a never-ending divisiveness,” she said in a speech. “In view of these factors, I have decided not to run.”

Arroyo’s decision came amid growing concern among busi- nesspeople about economic prospects in the face of a surging national budget deficit, poor tax collection efforts and perceptions of increased lawlessness.

With her decision not to run, Arroyo said she felt “relieved of the burden of politics.”

She said she intends to devote the last year and a half of her term to the economy and to encouraging business activity “unhampered by corruption and red tape in government.”