Philippines: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Philippines

International Monetary Fund

No 2009/062, IMF Staff Country Reports from International Monetary Fund

Abstract: The staff report for the Philippines’ 2008 Article IV Consultation is focused on economic developments and policies. A deepening of the global economic downturn presents downside risks to this outlook. Inflation is expected to reach 9½ percent in 2008 and decline to 6 percent in 2009, led by a decline in commodity prices and weaker demand. Bank surveillance has been strengthened and steps have been taken to reduce risks related to off-balance sheet activities.

Keywords: ISCR; CR; excl. privatization receipt; headline inflation; inflation outlook; economy; exchange rate; net; privatization receipt; excl. privatization; bank capital; Public sector; Inflation; Global; Middle East; Asia and Pacific (search for similar items in EconPapers)
Pages: 62
Date: 2009-02-20
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