Thursday, October 16, 2008

Go / No-Go

Snigger. From the Philippine Daily Inquirer:
The World Bank said it had no plan to contribute to a regional standby fund that would help Southeast Asian banks that might be affected by the world financial crisis, which President Gloria Macapagal-Arroyo had announced Wednesday.

The World Bank vice president for East Asia, Jim Adams, said that while the bank was ready to help countries that would be affected by the crisis, it did not plan to contribute to a regional fund.

It was not immediately clear why Arroyo made the announcement, rather than Thailand, the current chairman of ASEAN.

I can think of a number of reasons, actually.

3 comments:

  1. Good thing you wrote about this. The fact that something's wrong hits you immediately doesn't it.
    =).
    WorldBank + Fund to buy toxic debt!!! What?! Wasn't that Paulson's plan that got shot down by Congress the first time? The banks in Asia, so far, have limited exposure to toxic debt and don't need saving.
    What was she thinking? Maybe her enemies can now make a case that she is crazy. =)

    diane

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  2. Malacanang has now accepted that Gloria goofed! Big embarrassment indeed!

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  3. Ha ha, up to last night, palusot nang palusot pa rin si Favila. Tawang tawa ako. Ha ha ha ha ha!

    Thanks for visiting, guys!

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