Chapter 10

The end of January heralded a new chapter in Ferdinand Marcos's presidency, as he found himself ensconced in the opulent surroundings of his office in Malacañang Palace, awaiting the arrival of the Secretary of Finance. Seated behind his imposing desk, surrounded by the trappings of power and authority, Marcos cast his gaze over the bustling metropolis of Manila sprawled out beyond the windowpanes.

As he awaited the imminent meeting, Marcos took a moment to reflect on the current state of affairs in the Philippines—a nation teetering on the brink of transformation, poised at the cusp of a new era of economic growth and development. With a heavy heart, he recalled the challenges and setbacks that had plagued the country in the preceding year, from political instability to economic stagnation and social unrest.

The tumultuous events of 1965 had left an indelible mark on the fabric of Philippine society, testing the resilience of its people and the fortitude of its leadership. But amidst the chaos and uncertainty, there were glimmers of hope—flickering beacons of possibility that illuminated the path forward towards a brighter future.

Lost in thought, Marcos poured over the voluminous reports and data spread out before him, each document a testament to the myriad complexities and contradictions of the Filipino experience. From the bustling streets of Manila to the verdant rice paddies of the countryside, the nation pulsed with the energy of a people yearning for change, for progress, for a better tomorrow.

But change, Marcos knew, would not come easy. It would require bold vision, decisive action, and unwavering determination to overcome the entrenched interests and vested powers that stood in the way of progress. And as he prepared to meet with the Secretary of Finance to discuss the next steps in their economic development plan, Marcos felt a surge of resolve coursing through his veins—a determination to rise to the challenges that lay ahead and lead his nation towards a brighter future.

As the Secretary of Finance entered the room, Marcos rose to greet him with a firm handshake and a steely gaze. "Good morning, Secretary ," he said, his voice ringing with authority. "Thank you for joining me. Let us begin." With that, they settled into a serious discussion about the economic future of the Philippines.

A

As Ferdinand Salazar, now fully entrenched in his role as President Ferdinand Marcos, sat across from his Secretary of Finance in the hallowed halls of Malacañang Palace, the weight of responsibility hung heavy in the air. With a furrowed brow and a steely gaze, he leaned forward, his voice carrying a note of urgency as he broached the topic at hand.

"Secretary, I need to know the status of our funding for the economic development plan," Ferdinand began, his tone measured yet resolute. "How much have we been able to secure, and from whom?"

The Secretary of Finance, a seasoned bureaucrat with a keen understanding of the intricacies of fiscal policy, met Ferdinand's gaze with a steady nod. "Mr. President, I am pleased to report that we have been able to secure a total of $15 billion in funding for the program," he replied, his voice steady and assured. "This amounts to 30 billion pesos, given the current exchange rate of 2 PHP to 1 USD. Of this amount, $8 billion was sourced from local creditors, while the remaining $7 billion came from external sources."

Ferdinand's expression softened with a sigh of relief as he absorbed the magnitude of the Secretary's words. "That is welcome news indeed," he remarked, his voice tinged with satisfaction. "And what are the terms of these loans? How long do we have to repay them, and at what interest rates?"

The Secretary of Finance adjusted his glasses, flipping through a stack of papers before producing a detailed report on the terms of the loans. "Mr. President, the repayment terms vary depending on the source of the funding," he explained, his tone becoming more animated as he delved into the specifics. "For the local creditors, we have negotiated terms ranging from 10 to 20 years, with interest rates capped at 2 percent at most. As for the external sources, the terms are similar, with repayment periods extending up to 20 years and interest rates not exceeding 1 percent."

Ferdinand nodded thoughtfully as he processed the information, his mind already racing with plans and strategies for the allocation of the funds. "Thank you, Secretary. This is indeed promising news," he said, his voice brimming with optimism. "With these funds secured, we can now move forward with our economic development plan in earnest. It will not only boost the economy of the Philippines but also provide much-needed employment opportunities for our people."

With a sense of purpose and determination, Ferdinand rose from his seat, his mind already turning to the next steps in their grand endeavor. As he and the Secretary of Finance exchanged a final nod of agreement, they knew that the road ahead would be fraught with challenges, but they were ready to face them head-on, united in their commitment to building a brighter future for the Philippines.

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As Ferdinand Salazar pondered the weighty matters that lay ahead, his mind buzzed with the urgency of securing the Philippines' energy independence. With a furrowed brow and a determined glint in his eye, he knew that the time for action was now. The lessons of the future weighed heavily on his mind, reminding him of the precarious position his nation found itself in as a net importer of oil, at the mercy of foreign powers and fluctuating global markets.

With a decisive nod, Ferdinand rose from his desk, the polished wood cool beneath his fingertips, and made his way to the expansive windows of his office. As he gazed out over the sprawling cityscape of Manila, his thoughts turned to the vast expanses of ocean that lay beyond—the untapped potential of the Philippine Sea waiting to be unlocked.

"I need to secure offshore rigs," Ferdinand mused aloud, his voice a low murmur in the stillness of the room. "If we are to truly achieve energy independence, we must harness the resources that lie beneath our seas."

With a sense of purpose coursing through his veins, Ferdinand knew that he could not accomplish this monumental task alone. He needed allies, partners with the expertise and resources to help him realize his vision. And as a former colony and staunch ally of the United States, he knew where to turn.

Summoning his Executive Secretary with a press of a button, Ferdinand wasted no time in articulating his plan. "I need you to arrange a meeting with key officials in the United States," he instructed, his voice firm and unwavering. "We need their expertise in building offshore rigs, and we need it urgently."

The Executive Secretary, a seasoned bureaucrat with a keen understanding of the intricacies of diplomacy, nodded in understanding. "Consider it done, Mr. President," he replied, his voice crisp and efficient. "I will reach out to our contacts in Washington immediately and arrange the necessary meetings."

With the wheels of diplomacy set in motion, Ferdinand felt a surge of anticipation coursing through his veins. The path ahead would be fraught with challenges and obstacles, but he was determined to see his vision through to fruition. For the future of the Philippines depended on it, and Ferdinand Salazar, now President Ferdinand Marcos, would stop at nothing to ensure the prosperity and security of his nation.