Carlos P. Garcia

Upon assuming the presidency after Ramon Magsaysay's death, Garcia launched an austerity program to curb government spending and reduce corruption. The program included salary cuts for high-ranking officials and a ban on luxury imports, aiming to stabilize the Philippine economy and promote fiscal discipline.

Garcia won the 1957 Philippine presidential election as the Nacionalista Party candidate, defeating challengers including Jose Yulo. He secured a full four-year term after completing the remainder of Magsaysay's term, continuing his nationalist economic policies.

President Garcia issued Executive Order No. 169 and subsequent measures to implement the Filipino First Policy. This policy aimed to promote Filipino economic nationalism by giving preference to Filipino-owned businesses over foreign, particularly American and Chinese, enterprises in the exploitation of natural resources and public utilities.

Garcia lost his re-election bid to Vice President Diosdado Macapagal of the Liberal Party. The election was marked by allegations of corruption and economic stagnation under Garcia's administration, leading to his defeat and the end of his presidency.

Garcia was elected as the delegate and later chairman of the 1971 Philippine Constitutional Convention tasked with drafting a new constitution. He died of a heart attack on June 14, 1971, before the convention completed its work, which eventually led to the 1973 Constitution under Marcos.