Protests erupt as Marcos is re-elected as president of Philippines

On Tuesday, the Philippines awoke to a new but familiar political scene, after Ferdinand Marcos Jr.’s election victory paved the path for the country’s most notorious political dynasty’s previously unthinkable return to power.

Marcos, sometimes known as ‘Bongbong,’ defeated arch challenger Leni Robredo to gain an overwhelming majority in the Philippines presidential election, marking a surprising comeback by the son and namesake of an ousted tyrant that had been decades in the making.

Marcos and his family escaped to Hawaii following a 1986 ‘people power’ rebellion that ended his father’s 20-year dictatorial dictatorship, and he has served in congress and the senate since his return to the Philippines in 1991.

Marcos’ landslide victory in Monday’s election now appears assured, with about 98 percent of eligible ballots counted in an unofficial tally indicating he received nearly 31 million votes, more than double that of Robredo.

The official outcome should be available before the end of the month.

‘There are thousands of you out there, volunteers, parallel groups, political leaders who have cast their lot with us because of our belief in our message of unification,’ Marcos said while standing near the Philippine flag in a statement streamed on Facebook.

Despite his victory, Marcos, 64, campaigned on a platform of unity, political observers say his president is unlikely to nurture that.

On Tuesday, Philippine stocks (.PSI) plunged 3% before recovering. The dip corresponded to lower world stocks, however experts highlighted uncertainty over Marcos’ intentions.

Investors are interested in seeing his economic team, according to Jonathan Ravelas, chief market strategist at BDO Unibank in Manila. Meanwhile, the peso currency gained 0.4 percent against the dollar.

Many Robredo supporters are enraged by what they regard as the disgraced former first family’s brazen attempt to utilise its control of social media to recast historical narratives of its time in power.

Thousands of opponents of the older Marcos were persecuted under martial law from 1972 to 1981, and the family name became synonymous with plunder, cronyism, and lavish living, with billions of dollars in state funds missing.
Many of the Marcos family’s sympathisers, bloggers, and social media influencers claim that historical accounts are twisted.