This web page presents information about the work of the IMF in the Philippines, including the activities of the IMF Resident Representative Office. Additional information can be found on the Philippines and IMF country page, including IMF reports and Executive Board documents that deal with the Philippines.

The Philippines and the IMF Country Page

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At a Glance

At a Glance : Philippines's Relations with the IMF

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Office Activities

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IMF's Work on the Philippines

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Photos

  • 2018 Article IV Press Conference, July 25, 2018

  • 2018 Article IV Press Conference, July 25, 2018

  • Luis Breuer at the 2018 Article IV Press Conference, July 25, 2018

May 1, 2023

Despite weakening external demand and monetary tightening, domestic demand has so far remained strong, with China’s reopening providing fresh impetus. IMF Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy. Global growth is poised to decelerate as rising interest rates and Russia’s war in Ukraine weigh on activity. Inflation remains stubbornly high, and banking strains in the United States and Europe have injected greater uncertainty into an already complex economic landscape. Asia’s domestic demand has so far remained strong despite monetary tightening, while external appetite for technology products and other exports is weakening. We project the region will contribute around 70 percent of global growth this year as its expansion accelerates to 4.6 percent from 3.8 percent in last year. China’s reopening will provide fresh momentum. Normally the strongest effect would be from demand for investment goods in China, but this time the biggest effect is from demand for consumption. Other emerging economies in the region are on track to enjoy solid growth, though in some cases at slightly lower rates than seen last year.
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