Martial Law in the Philippines

1. Ferdinand Marcos was born on September 11, 1917, in Sarrat, Ilocos Norte, Philippines.
2. He died in exile in Honolulu, Hawaii, on September 28, 1989.
3. Marcos ruled the Philippines for 21 years, exercising authoritarian power and undermining democratic processes through the declaration of Martial Law.
   References

   • Conrado., De Quiros (1997). Dead aim : how Marcos ambushed Philippine democracy. Foundation for Worldwide People Power (Manila, Philippines). Pasig: Foundation for Worldwide People's Power. ISBN 9719167033. OCLC 39051509.

   • https://www.officialgazette.gov.ph/featured/declaration-of-martial-law/

4. Marcos and his associates looted billions of dollars from the government, took on enormous loans to keep the economy afloat, and left the Philippines in a desperate financial state.
   References

   • Ricardo., Manapat (1991). Some Are Smarter Than Others : The History of Marcos' Crony Capitalism. New York: Aletheia Publications. ISBN 9719128704. OCLC 28428684.

   • https://www.gmanetwork.com/news/money/content/172779/martial-law-costly-lessons-in-economic-development/story/

5. Marcos was a topnotcher during 1939 Bar Examinations with a score of 92.35% BUT he does NOT hold the record of having the highest score in a bar examination.
   References

   The record for the highest score in a bar examination is held by Florenz Regalado, a former Philippine Supreme Court Justice; 1st placer, 96.7% 1954 Bar Exams.

   • https://verafiles.org/articles/vera-files-fact-check-post-revives-false-claim-ex-president

   • https://www.themanilastar.com/2019/10/fact-check-is-marcos-highest-record.html

6. The external debt of the Philippines rose more than 72-fold from $360M in 1962 to $26.2B in 1985, making the Philippines one of the most indebted countries in Asia.
   References

   • Boyce, James K. (1993). The political economy of growth and impoverishment in the Marcos era. Ateneo de Manila University Press. p. 10. ISBN 978-971-550-096-8.

   • Introduction to "The Marcos Legacy: Economic Policy and Foreign Debt in the Philippines" (PDF). Developing Country Debt and Economic Performance, Volume 3: Country Studies – Indonesia, Korea, Philippines, Turkey. National Bureau of Economic Research. 1989.

7. Marcos is widely known to international academics, economists, and journalists as a kleptocrat, a corrupt leader who uses political power to appropriate the wealth of their nation, typically by embezzlement or misappropriation of government funds at the expense of the wider population.
   References

   • Acemoglu, Daron; Verdier, Thierry; Robinson, James A. (May 1, 2004). "Kleptocracy and Divide-and-Rule: A Model of Personal Rule". Journal of the European Economic Association. 2 (2–3): 162–192.

   • David, Chaikin; Sharman, J.C. (2009). "The Marcos Kleptocracy". Corruption and Money Laundering: A Symbiotic Relationship. Palgrave Series on Asian Governance. New York: Palgrave Macmillan. pp. 153–186. doi:10.1057/9780230622456_7. ISBN 978-0-230-61360-7.

   • https://www.economics.hawaii.edu/research/workingpapers/WP_08-5.pdf