PGMA ranks 44th in Forbes list of world’s most powerful women

August 20, 2009 9:47 am 

MANILA, Aug. 20 — For the sixth consecutive year, President Gloria Macapagal-Arroyo made it to the prestigious Forbes magazine’s list of the world’s most powerful women in its August 2009 issue.

The President was ranked 44th, a few notches behind US First Lady Michelle Obama, who ranked 40th, US media star Oprah Winfrey (41st) and British Queen Elizabeth II (42nd).

The list came out shortly after she became the first leader in South East Asia to meet US President Barack Obama at the White House.

Forbes named Angela Merkel, Germany’s first female chancellor, as the world’s most powerful woman in its latest ranking.

President Arroyo’s best ranking in the Forbes annual list was fourth in 2005.

In a press briefing, Budget Secretary Rolando Andaya said that President Arroyo’s inclusion in the Forbes list could be traced to her sound economic measures that cushioned the effects of the global economic crisis.

Andaya explained that while countries all over the world reeled from the global economic crisis, the Philippines remained resilient and posted positive economic growth.

In the first quarter of this year, the country posted a 0.4-percent growth in gross domestic product.

The National Economic and Development Authority (NEDA) projects GDP will strengthen for the rest of the year.

In July, the Philippines’ debt rating was raised by Moody’s Investors Service an international ratings agency, citing the country’s resilient financial system, foreign reserves, and a stable peso in the face of a global economic downturn.

He added despite the political attacks against the President, she continues to do her job effectively which is to improve the lives of the Filipinos.

The budget secretary also cited the President’s work ethic as one of her endearing characters that influenced her Cabinet to work harder to meet the administration’s targets. (PNA) LDV/OPS/ssc

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