Only hours after a late-night meeting in Indonesia with President Bacharuddin Habibie, a pensive, slightly sleepy-eyed Philippine President Joseph Estrada met with a group of TIME editors at the World Economic Forum's East Asia Economic summit in Singapore. Excerpts from the interview:
TIME: Has God punished you by making you President during an economic crisis?
Estrada: [Laughs.] It's one of the biggest challenges of my life. It has been an uphill battle since I started as a movie star, and this will be the last performance of my life. President Aquino introduced democracy and economic reform. President Ramos introduced political stability and reform. Unfortunately, at the time I took over, the whole of Asia was hit by the economic crisis. But my predecessors left a good foundation for economic development.
TIME: Do you think you'll ever have to impose capital controls, as Malaysia did?
Estrada: The Philippines has already experienced that. I remember reading about it in the newspaper when I was in high school. Controls only promoted corruption. I will never impose them.
TIME: What's your biggest challenge?
Estrada: To alleviate the suffering of the poor who were neglected for decades.
TIME: How have you done so far?
Estrada: During the campaign and after I assumed office, the press started hitting me right and left. Sometimes they become too personal. Whatever I do, the local media watches every move I make. They would prefer I'd make a mistake. But I have no regrets. I'm honest, and I don't deny anything. Our people know I came from being a movie actor and slept with many leading ladies. Of course, that was just publicity most of the time.
TIME: So you have a lot in common with Bill Clinton?
Estrada: I think we are both handsome.
TIME: Will you attend the APEC summit in Kuala Lumpur next month?
Estrada: I've not decided, but I think APEC should be dealt separately from my feelings for my friend Anwar Ibrahim. He's not been given due process. He shouldn't have been treated like that after serving his country for 25 years. He should be under house arrest, not in jail. His family is suffering, his children.
Philippine President Joseph Estrada. MUNSHI AHMED FOR TIME
