Ferdinand Marcos
1969 balance of payments crisis

During the campaign, Marcos spent $50 million worth in debt-funded infrastructure, triggering a balance of payments crisis. The Marcos administration ran to the International Monetary Fund (IMF) for help, and the IMF offered a debt restructuring deal. New policies, including a greater emphasis on exports and the relaxation of controls of the peso, were put in place. The Peso was allowed to float to a lower market value, resulting in drastic inflation, and social unrest.
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