There is a big difference between living in state with domestic or in civil war, or a state in war with global terrorism and the world at war as a whole. I am hoping that we can all agree based on our reading assignment, that one of the major goals of IMF is to prevent world wars, and we should give credit to the founding fathers and members of this institution, otherwise we all experience world war III, IV and so on already. It is unrealistic to sustain an absolute world peace but is likely that we humans despite of our weakness, we, the civilized being can formulate and create a mechanism on how to live peacefully.
I believe that to know the full potential and capability of a product, one must read the official users manual of the product. One way to clarify and differentiate the distinction between IMF and World Bank operations and its overlapping responsibilities it go and check their official site. https://www.imf.org/external/pubs/ft/exrp/differ/differ.htm
"Nowhere will you find a bridge or a hospital built by the IMF,”. (Driscoll, 1996 pr 30). In this statement alone one can clearly understand that the IMF is not responsible in building any project. However the World Bank is responsible for “ technical assistance and funding for projects and policies that will realize the countries’ economic potential” (Driscoll, 1996 pr 13)
Personally I cannot pin point a project funded by the world bank that instantly, right then and there created a national crisis upon it implementation and o...
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...le growth of the world economy, the IMF is an enemy of surprise. It receives frequent reports on members ' economic policies and prospects, which it debates, comments on, and communicates to the entire membership so that other members may respond in full knowledge of the facts and a clear understanding of how their own domestic policies may affect other countries.” (Driscoll, 1996)
In my opinion, the IMF and World Bank did its primary job, but the questions of who is held responsible and accountable in implementing the economic policies and reforms in the Philippines , who is responsible in maintaining and sustaining the loaned infrastructures? Is it the Philippine Government or the Filipino people? Ideally the government should work for the people and for the common good of the country. Sad to say that the ideals of democracy remains unrealistic in the Philippines.
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