Philippines: 2010 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Philippines

March 1, 2011

Preview Citation

Format: Chicago

Philippines: 2010 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Philippines, (USA: International Monetary Fund, 2011) accessed November 21, 2024

Summary

After the global financial crisis, economic growth of the Philippines has increased. However, renewed shocks to global growth and financial markets would affect Philippine exports and remittances. The Bangko Sentral ng Pilipinas (BSP) appropriately has started to unwind its liquidity support measures since early 2010. Traditional toolkits are available for managing external inflows. The planned gradual withdrawal of fiscal stimulus and the focus on medium-term consolidation are welcomed. Public–private partnership programs can play an important role, and a medium-term Philippine development plan could also be prepared.

Subject: Balance of payments, Capital inflows, External debt, Inflation, Prices, Public debt, Remittances

Keywords: Broad money growth, Capital inflows, CR, Deficit, Demand-side price pressure, Global, Growth, IMF staff projection, Inflation, Inflation expectation, Inflation outlook, ISCR, Rate, Remittances

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/059
Stock No:

1PHLEA2011002
ISBN:

9781455219964
ISSN:

1934-7685

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