Be wary of the World Bank

PRESIDENT Benigno “Noynoy” Aquino III should be wary of the praises heaped on him by the World Bank, an institution together with the International Monetary Fund, created to spread American hegemony and interests all over the world under the guise of reducing poverty.

Although welcome, the remarks made by WB President Robert Zoellick praising Aquino for taking on the challenge of creating a more transparent and accountable government should be taken with a grain of salt coming from a major implementer of American economic policy.

The praise simply means Aquino, wittingly or unwittingly, is acting in perfect line with American interest.

Take for example the official WB line that corruption is the cause of Philippine poverty.

Corruption is a symptom of poverty not its cause.

It also ignores the fact that the same institution has cozy relationships with the most corrupt and brutal leaders of the Philippines, which was exposed during the height of the Marcos dictatorship and the world.

Furthermore, it is noteworthy that almost all projects imposed by the WB on the Philippine government have ultimately redounded to the economic benefit of the United States and other western countries to our detriment.

In fact it is the WB policies that are preventing the genuine industrialization of our country.

That is the reason why a number of developing countries now are no longer adopting WB/IMF economic prescriptions.

The WB’s history is replete with examples on how it manipulated countries for the benefit of the U.S. and the other members of the G-7 club, the organization of the wealthiest industrialized countries in the world.

The WB was also involved, directly or indirectly, to the overthrow of unfriendly governments, especially in Latin America during the 1960’s, 1970’s and even as late as the 1980’s.

Coming from the bank, the praises is truly revealing.


President Aquino’s visit to the U.S. is a waste of people’s money as the alleged success of the trip can be achieve by a low ranking offiical.

What Aquino got from American businessmen mostly are promises to invest.

But promises are most likely to be broken.

The U.S. is in prolonged economic turmoil and it is unlikely to invest in a country with poor infrastructure like us.

I am sure that before considering the Philippines, American economic planners and captains of industry are already setting up plants in China where the economic factors, including existing infrastructures, are more favorable and reliable.


Does boredom wear you down or is there just a nagging feeling that you want to get away from the metropolis and be with Mother Nature?

Then go and visit Bato Springs in barangay San Cristobal, San Pablo City.

Located at the foot of the mystical Mt. Banahaw, Bato Springs is just one hour and 30 minute drive from Manila.

You have a spacious parking space that could even accommodate tourist buses and first class amenities for all your business and pleasure needs.

For more information, call Ms. Elaine Garchitorena at 0495620976.


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