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
February 20, 2009
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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.
Subject: Banking, Economic sectors, External debt, Fiscal policy, Global financial crisis of 2008-2009, Inflation, Prices, Public debt, Public sector
Keywords: Asia and Pacific, bank capital, CR, economy, exchange rate, excl. privatization, excl. privatization receipt, Global, headline inflation, Inflation, inflation outlook, ISCR, Middle East, net, privatization receipt, Public sector
Pages:
62
Volume:
2009
DOI:
Issue:
062
Series:
Country Report No. 2009/062
Stock No:
1PHLEA2009001
ISBN:
9781451831436
ISSN:
1934-7685
