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By Chino S. Leyco Reporter
THE Philippines is no good in
reducing its poverty level, a former
World Bank president said Wednesday. On the sidelines of
Bridges-Dialogues Toward a Culture of Peace, James Wolfensohn, noted
that despite the recognition of high-poverty level, Filipinos remain
poor as shown in the latest government data. (See related story on
front page.)
“The Philippines has the wealth
to do it [reducing poverty level], and capability to do it. I just
hope you do it,” he told reporters.
Wolfensohn said the government
should increase its budget on education and health care, so that it
will feel more significant improvements in the country’s poverty
condition.
Compared with other developing
nations, the former World Bank chief added that the national
government’s spending on health and education is only 1/8 to 1/10.
“We’re now seeing
recognition, [and] this should guide us all. What troubles me is
that we all know what will happen. The direction is very clear. What
amazes me [are] politicians and leaders who stand and do nothing,”
he said.
Wolfensohn also noted that the
Philippines is a predominantly young country where poverty has
created disturbance among this segment. The youth needs good
governance “so I hope [government leaders] do it.”
As the government continued to
receive foreign aid, he said it should also know how to spend
wisely. “Education spending is too little in other countries,
equity comes from education and health care,” he added.
Former Finance Secretary Ramon
del Rosario, also a speaker at the forum, said poverty reduction
should start with senior government officials.
“Good government helps to adopt
good policy guidelines,” del Rosario added. He warned that with a
high poverty rate, economic growth cannot be sustained.
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