As the former Secretary of Finance for the Republic of the Philippines under two Presidents, Cesar Purisima is widely credited with turning the Philippine economy around and restoring investor confidence. His stewardship vastly increased government revenues, and set new records for investments in education, healthcare, and infrastructure. As a Founding Partner of IKHLAS Capital, he now extends his compassion to the member states of the Association of Southeast Asian Nations (ASEAN).
“A lot of people are really suffering,” he tells Mike. “Unlike the global financial crisis that hit the financial markets first, this really hit the countries from the ground up. And therefore, the ones who really suffered are those in the bottom of the pyramid. And the challenge for finance ministers, central banks is to come up with interventions that will not only hit the top, but really hit the bottom to find a more compassionate way to able to deal with this crisis.”