October 28, 2007 (LPAC)--A Philippines national news service reported Lyndon LaRouche associate Mike Billington's call for the Philippines to pull "out of the clutches of the IMF." ABS-CBNNews.com, under the headline, "RP Urged To Declare Debt Moratorium," said that "An American economist on Monday urged President Arroyo to pull the country 'out of the clutches' of the International Monetary Fund (IMF) and declare a debt moratorium.

"The President was warned that if she fails to do so the Philippines would face fiscal hardships that may lead to a collapse of the economy," ABS-CBN reported. "During a press conference of the Philippine LaRouche Society in Quezon City, Mike Billington of the LaRouche Movement's Executive Intelligence Review publication said the Philippines is being forced by the IMF to squeeze its population's 'lifeblood' by demanding that the government adhere to the fund's policies."