Philippines: 2009 Article IV Consultation-Staff Report, Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Philippines

International Monetary Fund

No 2010/045, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2009 Article IV Consultation highlights that following the adverse impact from the global economic and financial crisis, there are signs of a nascent recovery of the Philippine economy. Growth is expected at ¾ percent in 2009 and to recover to about 3¼ percent in 2010. The recovery will likely be led by private consumption as confidence strengthens and remittances pick up further. Investments and exports are also expected to benefit from the global recovery. Risks to the near-term outlook are broadly balanced and sensitive to the global growth outturn.

Keywords: ISCR; CR; monetary policy; government; IMF definition; deficit; monetary policy stance; IBRD loan; well functioning banking system; fiscal authorities; concentration risk; expenditure restraint; risk appetite; Remittances; Public sector; Exchange rates; Global (search for similar items in EconPapers)
Pages: 56
Date: 2010-02-19
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