IMF-WB, the resurrection
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It took Noynoy Aquino and his administration to bring back the International Monetary Fund (IMF)’s intrusive presence in the country and no thanks to Finance Secretary Cesar Purisima, who despite being in the Cabinet of Noynoy, remains the governor of the World Bank (WB) Group and the Asian Development Bank and alternate governor for the IMF for the country.
With his conflicting interest, Purisima could also be credited for the facilitation of the $434-million Millennium Challenge Corp. (MCC)’s supposed anti-poverty grant Noynoy recently snagged in his US visit.
Also, with apparent help from Purisima, the WB contributed an additional $59.1 million for the expansion of its Kapitbisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Services (Kalahi-CIDSS) project on top of the $120 million component for Kalahi-CIDSS of the MCC compact grant.
All of this, however, expectedly comes with a price..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20101017com1.html
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