ROCKEFELLER FOUNDATION OPTIMISTIC ON GOVERNMENT TACK VS FISCAL CRISIS
MANILA, August 31, 2004 (MANILA BULLETIN) The Rockefeller Brothers Fund (RBF) yesterday expressed confidence in the ability of the administration of President Gloria Macapagal Arroyo to resolve the financial problems hounding the country.
A philanthropic, grant-making foundation, the RBF has provided financial support to projects that promote social change and contribute to a more just, sustainable and peaceful world.
During their courtesy call at the Malacañang Music Room, RBF Chairman Steven Rockefeller and President Stephen Heintz told the President the financial crisis confronting the country will soon be resolved because of her efforts to correct the situation.
Both RBF officials described Arroyo’s efforts as "exemplary."
Rockefeller told the President that like the Philippines, the United States is also facing a difficult financial crisis because of its very large national budget deficit.
"The United States, like your country, is in very serious problem in terms of the financial crisis," he argued.
Amused by this observation, Mrs. Arroyo agreed with Rockefeller, and retorted that one solution is to raise revenues while scrimping on government spending.
Rockefeller also congratulated the President for her efforts in pursuing a comprehensive solution to the conflict in Mindanao.
For his part, Heintz extended an invitation for President Arroyo to attend the RBF’s foundation anniversary celebration in 2007-2008 and Mrs. Arroyo accepted.
She thanked the RBF officials for their philanthropic work not only in the Philippines but also in other countries.
"I hope you will continue to be successful in grant-making activities and I am very honored to be involved in your foundation anniversary in 2007," she said.
Accompanying Rockefeller were Executive Secretary Eduardo Ermita, Juan Santos, Carmencita Abella, and Ven Pumnyun Sunim of the Joint Together Society.
Reported by: Sol Jose Vanzi
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