In This Review

Unequal Alliance: The World Bank, The International Monetary Fund, And The Philippines
Unequal Alliance: The World Bank, The International Monetary Fund, And The Philippines
By Robin Broad
University of California Press, 1988, 352 pp
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Time spent in the Philippines in the early 1980s, later interviews and leaked documents permit Robin Broad to tell an interesting, plausible story of how the World Bank, allied with some private and official groups in the Philippines and with foreign businessmen, was more successful than the International Monetary Fund in getting at least nominal acceptance of a program of structural adjustment for the Philippine economy, which it then financed. When she moves on to condemn the policy as shortsighted in a shaky world economy, damaging to the majority of Filipinos and based on wrong concepts of development, her arguments and evidence grow thinner and her language sometimes looser, while the subjects become broader and more complex.