Washington, D.C. – Hours after The World Bank predicted a 7% economic growth for the Philippines, the international monetary body withdrew its forecast, saying that interns committed an embarrassing data error. The earlier prediction would have made the Philippines a standout as the bank cut its projections for most of the rest of Asia. The bank attributed the Philippine growth forecast to increased infrastructure spending, consumer spending, remittances and business process outsourcing.
In withdrawing the forecast, World Bank officials said that interns working at the bank’s Washington, D.C. headquarters misinterpreted some of the data they were reviewing. “They thought they were looking at financial data when in fact, they were reviewing the Philippines’ population growth rate,” they said.
Economic experts familiar with the actual situation in the Philippines have been skeptical of the investment-grade rating received by the country from Moody’s Investment Service, Fitch Ratings, and Standard & Poor in recent months, as they have with The World Bank’s forecast. “The ratings and forecast are simply not consistent with the ever-increasing gap between the rich and poor in this country of almost 100 million, as well as the massive political corruption and financial scandals that have pervaded many levels of the Philippine government,” the experts said.
The Adobo Chronicles 
Guys, the news they pop up here are all pseudo-journalism to pun. It’s a play of word…for fun. Adobo is delicious. Hehehe…
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FIRE THE INTERNS!!!
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The world bank committing an error like that? And it arrived to the point of being published and later on withdrawn. That is hard to believe. Either they’re sitting on their laurels and not finding errors or this is intentional..
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“They thought they were looking at financial data when in fact, they were reviewing the Philippines’ population growth rate,” BWA HA HA HA HA
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the most corrupt in the world!! shutt!!
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the most corrupt in the world!!!
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I cant imagine why World Bank management assigned those interns when they knew this is a serious issue…….and Ms. Ann Bauer was almost right or shall I say it’s not only 73% of population in the Philippines were classified as poor. Higher Officials of the Government are the main cause….government funds were intentionally put into their own benefit.
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The shift to semi-parliamentary federal government and the liberalization of economy are the best solutions for our country.
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Come on guys this is the Adobo Chronicles and is meant for fun.
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May I know where you get this news item?
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World Bank employees commit a serious mistake like this one? There must be something more to this. The reason is shallow and doubtful. They mistook a population growth rate data for an economic data? Unbelievable!
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true or not, ordinary filipinos do not feel the so-called economic growth…
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I cant see any economic growth in the Philippines. The poor are almost 73% of the whole country. The government is so much corrupt !
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Let the idiotic Pinoy butthurt flow.
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