The Roxas Administration (May 28, 1946 –April 15,1948) • 1.A government without financial means to support even its basic functions. • 2.Scarcity in the commodities especially of food • 3.Hyperinflation • 4.The tragic destruction of a productive economy • 5.Still –on going rehabilitation among the different sectors in the society • He established the rehabilitation Finance Corporation (1958) as the DBP. • The creation of DFA and the organization of the foreign service through Executive order no. 18 • GI Bill of Rights for the Filipino veterans • Revision of taxation laws to increase government revenues • Strengthen the sovereignty by proposing a CENTRAL BANK for the Philippines to administer the Philippine banking system R.A.no. 265 • campaigned for the parity amendment to 1935 constitution demanded by the Phil Trade Relations Act or the Bill Trade act would give the American citizens and industries the right to utilize the countries natural resources in return for rehabilitation support for US. • 620million dollar in war damage compensation through the Phil. War Damage Commission. • Established diplomatic ties with the foreign countries and gained membership to international entities such as: • United Nation General Assembly • United nations Educational, scientific and cultural organization UNESCO, WHO and ILO.