Friday, October 14, 2005

NR1014:Cut ties with the IMF and junk its econ dictates

From the Office of Anakpawis Rep. Crispin Beltran
News Release October 14, 2005

Severe ties with the IMF: it's economic prescriptions has doomed the Philippines

Anakpawis Representative Crispin Beltran today said that illegitimate President Gloria Macapagal-Arroyo's groveling obeisance to the dictates and recommendations of the International Monetary Fund (IMF) and other foreign finance multilateral agencies guarantees doom for the Philippine economy.

“These reforms and programs supposedly for economic development are actually blueprints for destruction. The IMF and other creditors have no other intent for doing business in the Philippines but to exploit the country and suck out all profits they can get,” he said.

“There is not a single IMF-prescription or program that resulted to genuine development for the
Philippines. We should break all ties with this global monster of an agency and implement policies the exact opposite of its prescriptions.”

Beltran said that Mrs. Arroyo's tax measures and other supposed reforms are all lifted from the IMF, and this alone makes them sure to be against the interest of the Filipino people and the national economy.

The IMF, he said, acts like an independent government imposing on the Philippines. “What right has this agency has to demand that the Philippines overhaul and restructure its economy and pattern everything according to IMF policies? It's recommendations are being taken like the word of God – but it's a twisted and demented God the Arroyo government is obeying and the Philippines is plunged in economic hell,” he said.

“For decades, the Philippines has been chained and enslaved by the IMF, and it's long overdue that this slave-master ties be severed. Macapagal-Arroyo keeps harping on her expertise as an economics major, but what good has this done for the country? The economic crisis continues to worsen. Even before the scandal of her electoral fraud erupted, she was already in hot water because of her failure to turn the economy around and provide genuine jobs for the people,” he
said. “The relentless oil price hikes and the ever-increasing electricity rates have been a bitter reality even before the Hello, Garci scam was exposed. It's not the political crisis that's exacerbating the economic problems of the country – it's the other way around; and the illegitimate and corrupt presidency is to blame,” he concluded.#


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