Ateneo PolSci Bloggers

Posts Tagged ‘World Bank’

Under Debt, Underdevelopment

In Political Economy, Politics on June 26, 2009 at 9:58 pm

by Rosselle Tugade

Yesterday, a very alarming information tidbit was passively delivered as good news in one of the state-owned television networks: the Philippine government has yet again secured a staggering loan from the World Bank amounting to more or less $70 M as part of a fifteen-year “adaptable programme loan” primarily aimed at improving irrigation systems, which in turn is geared towards agricultural productivity and food security.

This new dubious transaction entered upon by the Arroyo administration touches upon several salient problems that constitute the flaws of the country’s economic policy framework. Ultimately, this move is a reminder that we are deeply mired in the poisonous wells of the neoliberal regime, and our top officials are all too happy to let the country sit in that position of utter stagnation.

Read the rest of this entry »