Commonwealth of the Philippines
After the War in the Philippines the Commonwealth was restored and a one-year transitional period in preparation for independence began. Elections followed in April 1946 with Manuel Roxas winning as the first president of the independent Republic of the Philippines and Elpidio Quirino winning as vice-president. In spite of the years of Japanese occupation, the Philippines became independent exactly as scheduled a decade before, on July 4, 1946.
Diosdado Macapagal
As President, Macapagal worked to suppress graft and corruption and to stimulate the Philippine economy. He introduced the country's first land reform law, placed the peso on the free currency exchange market, and liberalized foreign exchange and import controls. Many of his reforms, however, were crippled by a Congress dominated by the rival Nacionalista Party. He is also known for shifting the country's observance of Independence Day from July 4 to June 12, commemorating the day President Emilio Aguinaldo unilaterally declared the independence of the First Philippine Republic from the Spanish Empire in 1898. He stood for re-election in 1965, and was defeated by Ferdinand Marcos, who subsequently ruled for 21 years.