Top banker thinks Digong can be RP’s Lee Kuan Yew

A top banker yesterday said incoming president Rodrigo Duterte has a chance of becoming one of the best presidents ever given his solid fortitude to curb criminality, drug use and too much reliance of provinces to Metro Manila.

The banker, who requested not to be identified for obvious reasons, said there are many unorthodox ways behind the incoming president, thus it is just proper to compare the man to Lee Kuan Yew, the founder of modern Singapore.

"Duterte is our best chance to a have a Lee Kuan Yew," the banker said.

He added that unlike his rivals in the last elections, Duterte didn't use mushy words or deliver promises that are difficult to achieve.

Lee, who died last year, eschewed populist policies in favor of pragmatic long-term social and economic measures.

However, Lee's rule was criticized, for curtailing civil liberties (public protests, media control) and bringing libel suits against political opponents.

He argued that such disciplinary measures were necessary for political stability, which together with rule of law, were essential for economic progress.

"He remained composed to issues that are very urgent to be addressed; and he hit the bull's eye," the banker, referring to the new president's victory after garnering almost 17 million votes, pointed out.

The banker said one very timely act that Duterte should do is encourage banks to give more access to credits to the unbanked people, which is about 70 percent of the population. "His force is something banks cannot ignore," he said.

"All he should do is use moral suasion so that the focus of banks should not always be on big loan seekers but more likely to those who only need at least P50,000 or less to start their own business," the banker added.

Source: Triibune