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THE ESTRADA
GOVERNMENT
June 30, 1998: Joseph Estrada is elected to the presidency. Throughout
his short presidential term, Estrada is criticised for failing to
address to issues of the country and the economy eventually starts to
suffer as a result.
April 2000: The Abu Sayyaf, an extremist Muslim separatist group in
Mindanao, begin a series of kidnappings in Malaysia at a tourist resort.
September 2000: In response to the activities of the Abu Sayyaf, the
military is despatched to Mindanao in an attempt to bring the situation
under control. War breaks out in the area.
October 9, 2000: Governor Luis "Chavit" Singson, a long-time friend of
Joseph Estrada, reveals that he has been collecting vast sums of money
from illegal gambling activities for Joseph Estrada.
October 12, 2000: Vice-President Gloria Macapagal-Arroyo resigns from
Estrada's cabinet amidst the bribery allegations.
October 18, 2000: Opposition groups attempt to start impeachment
proceedings against Estrada through Congress. Thousands of protestors
demand Estrada resign.
November 2, 2000: A number of government officials resign from their
posts, abandon, or turn away from Estrada. A number of Estrada's
friends eventually turn away from him.
December 7, 2000: Impeachment proceedings begin. It is believed Estrada
used a number of bank accounts in the name of Jose Velarde (an alias
for Estrada) to conceal his ill-gotten wealth.
December 11, 2000: An aide to Singson testifies she delivered money
from illegal gambling activities to Estrada's secretary.
December 20, 2000: Witnesses testify over one of the bank accounts in
the name of Jose Velarde.
December 22, 2000: Senior Vice-President Clarissa Ocampo of the
Equitable PCI Bank testifies she witnessed Estrada withdraw money from
one of the accounts in question. She claims she saw Estrada sign
documents in the name of Jose Velarde.
December 30, 2000: Metro Manila suffers five bomb attacks. The Estrada
administration tries to blame the bombs on the Muslims and communists.
Some believe the bombs attacks were done by pro-Estrada supporters
trying to divert public attention away from Estrada's impeachment
hearings. Vice-President Arroyo claims the bomb attacks do not justify
martial law.
December 31, 2000: The Philippines debts reach a total of P2 trillion
and the Philippine stock market finishes at bottom place against all
the other stock markets in the Southeast Asia region with an overall
loss of about 30%.
January 16, 2001: Senators vote against using secret documents in the
impeachment trial. The documents would prove Estrada amassed US$63.5
million in illegal activities. Senate President Aquilino Pimentel
resigns in protest.
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