MANILA, Oct 21 — Former Philippine president Joseph Estrada, removed from office by a popular revolt in 2001, formally announced today he would seek the presidency again, saying he had unfinished business.
“This is the last performance of my life and I will not fail you,” Estrada told a cheering crowd of about 9,000 supporters in one of Manila’s poorest districts, where he grew up.
The hard-living, 72-year-old former action movie star won the presidency by a landslide in 1998 but was impeached and then removed from office by an army-backed uprising, an act he claims was illegal.
Convicted of economic plunder in 2007, he was later pardoned.
Analysts believe Estrada can perform strongly in the May 2010 election because of his immense popularity among low-income voters and high ratings in opinion surveys.
Two other candidates, Senators Benigno “Noynoy” Aquino and Manuel Villar, have both received higher ratings, although analysts have warned that no trend has yet been established.
Economic analysts have warned that the prospects of an Estrada victory could spook financial markets because of his lack of fiscal discipline and stories of late-night parties with drinking and gambling buddies.
One market analyst described Estrada as an “investment risk”.
In a 40-minute speech, Estrada laid out his political and economic platform and defended his record as president, criticising the government of President Gloria Macapagal Arroyo and promising to continue programmes to help the poor.
Estrada told Reuters in an interview last month he would run in the May 2010 election to clear his name and leave a legacy as “the man who championed the cause of the masses”.
It is not clear whether Estrada is eligible to run again because of a constitutional ban on a president seeking a second term. Estrada is convinced he is not covered by the ban because he did not complete his term.
He will almost certainly be challenged in court once he formally registers in November. — Reuters
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