‘PHL $1B pledge to IMF bail-out fund, height of hypocrisy ‘ – Anakpawis

ANAKPAWIS Rep. Rafael Mariano strongly criticized the Aquino government’s action pitching in US$1-billion (P43-billion) to the International Monetary Fund’s (IMF) crisis fund.

“The Philippines’ US$1-billion pledge to IMF will only give more bragging rights for Aquino, currently the favored Am-Boy (American Boy) of the Obama government.”

The multibillion dollar crisis fund, also known as the ‘firewall fund’ is aimed at helping the financial agency respond to the Eurozone debt crisis. Portugal, Ireland, Greece and Spain (PIGS) have asked the IMF for assistance after being locked out of debt markets. The total pledges announced at the G20 Summit in Los Cabos, Mexico totaled to US$456-billion.

“It is at the height of hypocrisy and insensitivity that the Aquino government would commit a staggering US$1-billion to the IMF when Filipinos are in dire need of additional budget for basic social services like health, housing and education,” said Mariano.

The solon said the Executive Department must pull-out the donation. “Contributing to IMF’s ‘crisis fund’ when our country is in a chronic economic crisis is highly illogical and unacceptable. The Philippines is not even a member-country of the IMF. Aquino’s commitment is of his own volition.”

“The actions of President Benigno Aquino III favoring foreign interests have further disadvantaged Filipinos,” Mariano said. “Aquino is a blind follower of foreign dictates. He would willingly sell-out the country only to satisfy the whims of foreign financial agencies and governments.”

The Anakpawis solon said the US$1-billion fund would be more beneficial if used to fund the shortage of education materials and equipment for public schools.

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