More than fiscal

Published by the Visayan Daily Star Publications, Inc.

NINFA R. LEONARDIA Editor-in-Chief & President

CARLA P. GOMEZ Editor GUILLERMO TEJIDA III Desk Editor NANETTE L. GUADALQUIVER Busines Editor CEDELF P. TUPAS Sports Editor (On Leave) RENE GENOVE Bureau Chief, Dumaguete MAJA P. DELY Advertising Coordinator

CARLOS ANTONIO L. LEONARDIA Administrative Officer

The World Bank has recently lauded the government’s fiscal efforts, noting that the budget deficit is almost zero. Bert Hofman, WB Philippine’s country head has said that as a result, the Washington-based institution is ready to extend at least $1.7 billion for the next two years if the Philippine government needs such financial assistance. Hofman further praised the efforts of the government by pointing out that the fiscal authorities are doing so well in their efforts to contain the deficit and may not need to borrow that amount anymore.

During these troubled times, when allegations of massive corruption involving the first family has spurred the people into weekly street protests, news that a respected institution like the World Bank is praising the efforts of the government in the one area where it claims to excel comes as a reminder that in spite of all the allegations of wrongdoing and the bad press, there is a part of our government that continues to function as it should and even work well enough to get the attention of the World Bank. 

If our government were as dedicated to fighting corruption as it obviously is in keeping the budget deficit down, this nation would be in a much better place than it actually is right now. As  whatever positive gains that are being made are continually being wiped away, not by those who are exercising their inviolable right to express themselves by taking to the streets as they clamor for truth and accountability, but by the thieves and plunderers who continue to rape the nation with absolute impunity.

The one who deserves praise for keeping the budget deficit controllable is at the same time ultimately responsible for allowing a climate to exist where we know that a large part of that potential $1.7 billion WB loan for the Filipino people will simply be stolen by criminals who know they can get away with their crimes.*