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March 29, 2013
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Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2014  2015
Real GDP 6.2 6.3
Consumer Prices 4.5 3.9
Source: World Economic Outlook (October 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

Philippines: Financial Position in the Fund

Transactions with the Fund

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Bangko Sentral ng Pilipinas


Resident Representative Office in the Philippines

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Philippines and the IMF
Updated October 12, 2014

Show all items sorted by date | Annual Meetings Speeches (20) | Article IV Staff Reports (9) | Finance & Development (1) | IMF Survey Online (3) | IMF Surveys (1) | IMFC Statements (9) | Issues Briefs (1) | Joint Meeting of the IMFC and the Development Committee (1) | Letters of Intent (2) | News Briefs (7) | Press Releases (30) | Public Information Notices (19) | Publications (74) | Speeches (19) | Transcripts (28) | Views & Commentaries (1) | Financial Sector Assessment Program (2) | Other (2) 
Annual Meetings Speeches
October 10, 2014 -- Statement by the Hon. Rosalia V. De Leon, Alternate Governor of the World Bank Group for Philippines
PDF File Size: 148Kb
October 09, 2014 -- Statement by the Hon. Amando M. Tetangco, Jr., Governor of the IMF for Philippines
PDF File Size: 447Kb
October 11, 2013 -- Statement by the Hon. Amando M. Tetangco, Jr., Governor of the IMF for Philippines
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October 11, 2013 -- Statement by the Hon. Cesar V. Purisima, Governor of the World Bank Group for Philippines
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October 12, 2012 -- Statement by the Hon. Amando M. Tetangco, Governor of the IMF for Philippines
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October 12, 2012 -- Statement by the Hon. Cesar V. Purisima, Governor of the World Bank Group for Philippines
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September 23, 2011 -- Statement by the Hon. Amando M. Tetangco, Jr., Governor of the IMF for Philippines
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September 23, 2011 -- Statement by the Hon. Cesar V. Purisima, Governor of the World Bank Group for Philippines
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October 08, 2010 -- Statement by the Hon. Cesar V. Purisima, Governor of the World Bank Group for Philippines
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October 06, 2009 -- Statement by the Hon. Margarito B. Teves, Governor of the World Bank Group for Philippines, at the Joint Annual Discussion
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October 13, 2008 -- Statement by the Hon. Margarito B. Teves, Governor of the World Bank Group for Philippines, at the Joint Annual Discussion
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October 22, 2007 -- Statement by the Hon. Margarito B. Teves , Governor of the World Bank Group for Philippines, at the Joint Annual Discussion
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September 19, 2006 -- Statement by the Hon. Margarito B. Teves, Governor of the World Bank Group for Philippines, at the Joint Annual Discussion
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September 25, 2005 -- Statement by the Hon. Margarito B. Teves, Governor of the World Bank for the Philippines, at the Joint Annual Discussion
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October 03, 2004 -- Statement by the Hon. Juanita D. Amatong, Governor of the World Bank for the Philippines, at the Joint Annual Discussion
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September 24, 2003 -- Statement by the Hon. Jose Isidro N. Camacho, Governor of the World Bank for the Philippines, at the Joint Annual Discussion
PDF File Size: 111Kb
September 29, 2002 -- Statement by the Hon. Jose Isidro N. Camacho, Governor of the World Bank for the Philippines, at the Joint Annual Discussion of the Boards of Governors of the IMF and World Bank, September 29, 2002
PDF File Size: 111Kb
September 27, 2000 -- Statement by the Hon. Jose Trinidad Pardo, Alternate Governor of the Fund and Governor of the World Bank for the Philippines, at the Joint Annual Discussion
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October 07, 1998 -- Statement by the Hon. Edgardo B. Espiritu, Governor of the World Bank for the Philippines, at the Joint Annual Discussion
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September 24, 1997 -- Statement by the Hon. Roberto F. De Ocampo, Governor of the World Bank and Alternate Governor of the IMF for the Philippines, at the Joint Annual Discussion.
PDF File Size: 31Kb
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Article IV Staff Reports
August 08, 2014 -- Philippines: 2014 Article IV Consultation-Staff Report; Press Release
Series: Country Report No. 14/245
March 05, 2012 -- Philippines: Staff Report for the 2011 Article IV Consultation
Series: Country Report No. 12/49
March 01, 2011 -- 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
Series: Country Report No. 11/59
February 19, 2010 -- Philippines: 2009 Article IV Consultation-Staff Report, Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Philippines
Series: Country Report No. 10/45
February 20, 2009 -- 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
Series: Country Report No. 09/62
April 02, 2008 -- Philippines: 2007 Article IV Consultation - Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of the Executive Director for the Philippines
Series: Country Report No. 08/119
February 13, 2007 -- Philippines: 2006 Article IV Consultation - Staff Report; Public Information Notice on the Executive Board Discussion; and Statements by the Authorities of the Philippines
Series: Country Report No. 07/62
March 06, 2006 -- Philippines: 2005 Article IV Consultation and Post-Program Monitoring Discussions - Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Philippines
Series: Country Report No. 06/92
March 21, 2005 -- Philippines: 2004 Article IV Consultation and Post-Program Monitoring Discussions--Staff Report; Staff Statement; Statement by the Executive Director for the Philippines; and Public Information Notice on the Executive Board Discussion
Series: Country Report No. 05/105
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Finance & Development
September 01, 1998 -- Finance & Development September 1998 - Poverty and Economic Policy in the Philippines
By Philip Gerson - Past economic policies that hampered growth, and the resistance of powerful elites to much-needed reforms, were largely responsible for the high incidence and persistence of poverty in the Philippines. Recent policy changes have spurred growth, but additional reforms could accelerate the reduction of poverty.
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IMF Survey Online
August 05, 2013 -- Podcast : Remittances Can Act as Drag on Development
If you are one of the hundreds of thousands of people who send money abroad to friends and relatives, beware!  You may be doing as much harm as good, suggests one IMF economist.  Although these remittances can be a lifeline for families, they can also undermine economic growth. 

March 05, 2012 -- IMF Survey: Positive Signs for Philippines Amid Global Gloom
Along with many countries in Asia, the Philippines has been hit by the fragile global economy. After reaching 7.6 percent in 2010, growth slowed to 3.7 percent in 2011.
March 01, 2011 -- IMF Survey: Confidence High as Philippines Emerges from Downturn
After slowing sharply in 2009, the Philippine economy recovered strongly last year from the global downturn and is poised to post GDP growth of 5 percent for 2011, according to the IMF.
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IMF Surveys
June 26, 2006 -- IMF Survey:
IMF work program; de Rato in Australia, New Zealand; Improving the IEO; Swaziland, Philippines briefs; Inequality in Panama; Namibia: poverty and inequality; Gabon: post-oil era; Growth in Indian states; HIV/AIDS effect; China and India: emerging giants. PDF File Size: 677Kb
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IMFC Statements
October 11, 2014 -- IMFC Statement by Dr. Prasarn Trairatvorakul, Governor, Bank of Thailand
On behalf of: Brunei Darussalam, Fiji, Indonesia, Cambodia, Lao People's Democratic Republic, Myanmar, Malaysia, Nepal, Philippines, Singapore, Thailand, Tonga, Vietnam. PDF File Size: 393Kb
October 11, 2008 -- IMFC Statement by Wayne Swan, Treasurer of the Commonwealth of Australia
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 353Kb
April 12, 2008 -- IMFC Statement by Hon. Wayne Swan, Treasurer of the Commonwealth of Australia
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 52Kb
April 14, 2007 -- IMFC Statement by the Honourable Peter Costello, Treasurer of the Commonwealth of Australia
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 40Kb
September 17, 2006 -- IMFC Statement by the Hon. Okyu Kwon, Deputy Prime Minister and Minister of Finance and Economy of the Republic of Korea
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 303Kb
April 22, 2006 -- IMFC Statement by Honorable Tae-Shin Kwon, Vice Minister, Ministry of Finance and Economy, Republic of Korea
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 217Kb
September 24, 2005 -- IMFC Statement by The Hon. Duck-Soo Han, Deputy Prime Minister and Minister of Finance and Economy of the Republic of Korea
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 180Kb
April 16, 2005 -- IMFC Statement by The Hon. Duck-Soo Han Deputy Prime Minister and Minister of Finance and Economy of the Republic of Korea
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 683Kb
October 02, 2004 -- Statement by The Hon. Peter Costello, Treasurer of Australia
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 96Kb
April 24, 2004 -- IMFC Statements Hon. Peter Costello, MP, Australian Treasurer
On behalf of: Australia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Mongolia, New Zealand, Philippines, Republic of Palau, Papua New Guinea, Solomon Islands, Seychelles, Vanuatu, Samoa. PDF File Size: 575Kb
September 21, 2003 -- Statement by The Hon. Peter Costello, M.P. Treasurer of Australia, to the International Monetary and Financial Committee (IMFC) Meeting, September 21, 2003
On behalf of the constituency comprising Australia, Kiribati, Korea (Republic of), Marshall Islands (Republic of the), Micronesia (Federated States of), Mongolia, New Zealand, Palau (Republic of), Papua New Guinea, Philippines, Samoa, Seychelles, Solomon Islands and Vanuatu
April 12, 2003 -- IMFC Statement by Senator the Hon. Ian Campbell, Parliamentary Secretary to the Treasurer of Australia, April 12, 2003
The International Monetary and Financial Committee statement on behalf of Australia, Kiribati, Korea, Marshall Islands, Micronesia, Mongolia, New Zealand, Palau, Papua New Guinea, the Philippines, Samoa, Seychelles, Solomon Islands and Vanuatu.
September 28, 2002 -- Statement by The Hon. Peter Costello, M.P., Treasurer of Australia, to the International Monetary and Financial Committee, Washington, D.C., September 28, 2002
The International Monetary and Financial Committee statement on behalf of Australia, Kiribati, Korea (Republic of), Marshall Islands (Republic of the), Micronesia (Federated States of), Mongolia, New Zealand, Palau (Republic of), Papua New Guinea, the Philippines, Samoa, Seychelles, Solomon Islands and Vanuatu.
April 20, 2002 -- IMFC Statement by Senator The Hon. Ian Campbell Parliamentary Secretary to the Treasurer of Australia, April 20, 2002
The International Monetary and Financial Committee statement on behalf of the constituency comprising Australia, Kiribati, Republic of Korea, Republic of Marshall Islands, Federated States of Micronesia, Mongolia, New Zealand, Republic of Palau, Papua New Guinea, the Philippines, Samoa, Seychelles, Solomon Islands and Vanuatu
November 17, 2001 -- Statement by The Hon. Peter Costello, Treasurer of Australia to the International Monetary and Financial Committee, Ottawa, November 17, 2001
The International Monetary and Financial Committee statement on behalf of the constituency comprising Australia, Kiribati, Republic of Korea, Republic of Marshall Islands, Federated States of Micronesia, Mongolia, New Zealand, Republic of Palau, Papua New Guinea, the Philippines, Samoa, Seychelles, Solomon Islands and Vanuatu
April 28, 2001 -- Statement by the Hon. Peter Costello, Treasurer of Australia, to the International Monetary and Financial Committee, April 29, 2001
The International Monetary and Financial Committee statement on behalf of the constituency comprising Australia, Kiribati, Korea (Republic of), Marshall Islands (Republic of), Micronesia (Federated States of), Mongolia, New Zealand, Palau (Republic of), Papua New Guinea, the Philippines, Samoa, Seychelles, Solomon Islands and Vanuatu.
September 24, 2000 -- Statement by Senator the Hon. Rod Kemp Assistant Treasurer of Australia to the International Monetary and Financial Committee
September 24, 2000 -- Statement by Carlos Saito G-24 Chairman to the Second Meeting of the International Monetary and Financial Committee, September 24, 2000
Speaking as the Chairman of the Intergovernmental Group of 24 on International Monetary Affairs
April 16, 2000 -- Statement by Senator the Hon. Rod Kemp, Assistant Treasurer of Australia, to the International Monetary and Financial Committee, April 16, 2000
The International Monetary and Financial Committee member for the constituency consisting of Australia, Kiribati, Korea, Marshall Islands, Federated States of Micronesia, Mongolia, New Zealand, Palau, Papua New Guinea, the Philippines, Samoa, Seychelles, Solomon Islands, and Vanuatu
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Issues Briefs
June 23, 2000 -- Recovery from the Asian Crisis and the Role of the IMF -- An IMF Issues Brief
This brief updates a paper entitled The IMF's Response to the Asian Crisis that was issued in January 1999.
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Joint Meeting of the IMFC and the Development Committee
April 28, 2001 -- Statement by the Hon. Peter Costello, Treasurer of Australia - International Monetary and Financial Committee and Development Committee, April 29, 2001
On behalf of the World Bank constituency comprising Australia, Cambodia, Kiribati, Korea (Republic of), Marshall Islands (Republic of), Micronesia (Federated States of), Mongolia, New Zealand, Palau (Republic of), Papua New Guinea, Samoa, Solomon Islands and Vanuatu and the IMF constituency comprising Australia, Kiribati, Korea (Republic of), Marshall Islands (Republic of), Micronesia (Federated States of), Mongolia, New Zealand, Palau (Republic of), Papua New Guinea, the Philippines, Samoa, the Seychelles, Solomon Islands and Vanuatu.
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Letters of Intent
January 20, 1999 -- Philippines Supplementary Memorandum on Economic and Financial Policies, January 20, 1999 -- Letter of Intent
This Memorandum on Economic and Financial Policies describes the policies that the Philippines intends to implement in the context of its request for financial support from the IMF.
March 11, 1998 -- Philippines Memorandum of Economic and Financial Policies -- Letter of Intent
This Memorandum of Economic and Financial Policies of the government of the Philippines describes the policies that the Philippines intends to implement in the context of its request for financial support from the IMF.
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News Briefs
January 23, 2001 -- News Brief: IMF's Aninat Congratulates President Macapagal-Arroyo of the Philippines
August 01, 2000 -- News Brief: IMF Completes Philippines Review, Approves US$314 Million Disbursement
October 01, 1999 -- News Brief: Joint Statement by the Government of the Philippines and IMF Mission
July 22, 1999 -- News Brief: IMF Completes Review and Approves US$213 Million Credit Tranche for the Philippines
February 24, 1999 -- News Brief: IMF Completes Review and Approves US$129 Million Credit Tranche for the Philippines
October 30, 1998 -- News Brief: IMF Completes Review and Approves US$280 Million Credit Tranche for the Philippines
July 10, 1997 -- News Brief: Camdessus Welcomes Announcement by the Philippines
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Other
April 16, 2012 -- Enhancing Financial Sector Surveillance in Low-Income Countries - Case Studies
Subject: Financial sector | Kenya | Philippines | Uganda | Nepal | Mexico | Turkey | Uruguay | Surveillance | Low-income developing countries | Financial systems | Cross country analysis
June 01, 2009 -- Evaluation of Technical Assistance on Bank Supervision by Long-Term Experts in Asia
Subject: Financial sector | Cambodia | Indonesia | Philippines | Asia | Bank supervision | Technical assistance experts | Monetary and Capital Markets Department
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Press Releases
August 08, 2014 -- Press Release: IMF Executive Board Concludes 2014 Article IV Consultation with the Philippines
March 26, 2014 -- Press Release: Statement at the Conclusion of the 2014 Article IV Consultation Mission to the Philippines
September 23, 2013 -- Press Release: Statement at the Conclusion of an IMF Staff Visit to the Philippines
January 23, 2013 -- Press Release: Statement at the Conclusion of the 2013 Article IV Consultation Mission to the Philippines
November 16, 2012 -- IMF Managing Director Christine Lagarde Concludes Visit to the Philippines
July 20, 2012 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to the Philippines
December 12, 2011 -- Press Release: Statement at the Conclusion of IMF Staff Mission to the Philippines
July 20, 2011 -- Press Release: Statement at the Conclusion of an IMF Staff Visit to the Philippines
December 10, 2010 -- Press Release: Statement at the Conclusion of the 2010 Article IV Consultation Mission to the Philippines
October 12, 2010 -- Press Release: IMF and U.S. Millennium Challenge Corporation Sign First Capacity-Building Partnership Agreement to Help Reform Tax Administration in the Philippines
November 14, 2008 -- Press Release: Statement of an IMF Staff Mission at the Conclusion of the 2008 Article IV Discussions with the Philippines
June 23, 2008 -- Press Release: Statement of an IMF Mission at the Conclusion of the Staff Visit to the Philippines
December 11, 2007 -- Press Release: Statement of an IMF Staff Mission at the Conclusion of the 2007 Article IV Discussions with the Philippines
July 31, 2007 -- Press Release: IMF Managing Director Rodrigo de Rato's Statement at the Conclusion of his Visit to the Philippines
July 19, 2007 -- Press Release: IMF Managing Director Rodrigo de Rato to Visit Thailand, the Philippines, and Cambodia
December 28, 2006 -- Press Release: IMF Welcomes the Philippines' Decision to Repay Early its Outstanding Obligations to the IMF
November 17, 2006 -- Press Release: IMF Mission Statement at the Conclusion of the 2006 Article IV Consultation and Post-Program Monitoring Discussions with the Philippines
August 02, 2006 -- Press Release: Statement by an IMF Staff Mission to the Philippines
July 13, 2006 -- Press Release: Statement by IMF Deputy Managing Director Takatoshi Kato at the Conclusion of his Visit to the Philippines
November 23, 2005 -- Press Release: Statement by an IMF Staff Mission to the Philippines
June 22, 2005 -- Press Release: Statement by IMF Staff at the Conclusion of the Post-Program Monitoring Mission to the Philippines
May 12, 2005 -- Press Release: IMF and Philippines Central Bank Host Seminar on Capital Market Reform and Government Bond Market Development
May 11, 2005 -- Press Release: IMF Deputy Managing Director Agustín Carstens at the Conclusion of his Visit to the Philippines
November 17, 2004 -- Press Release: IMF Mission Statement at the Conclusion of the 2004 Article IV Consultation and Post-Program Monitoring Discussions with the Philippines
October 13, 2004 -- Press Release: High-Level Conference on Financial Sector Issues in Emerging Markets in Asia: Role of the International Monetary Fund, October 11-12, 2004
July 12, 2004 -- Press Release: Statement by IMF Staff Mission to the Philippines
March 27, 1998 -- Press Release: IMF Approves Stand-By Credit for the Philippines
July 18, 1997 -- Press Release: IMF Approves Extension and Augmentation of EFF for the Philippines
September 25, 1995 -- Press Release: Philippines Accepts Article VIII Obligations