Political uncertainty ahead for Philippines

Manila

THE Philippines has been a magnet for foreign investment over the past five years, pushing its stock market to record highs and lowering the cost of its debt, but next year's change of government is reintroducing an old risk - political uncertainty.

Since Benigno Aquino won the presidency in 2010 promising reform and clean government, the Philippines has outpaced its neighbours and drawn money into its markets.

But with elections next year, and global volatility already pushing investors…