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
IMF Staff Country Reports, February 20, 2009
Source details
- Canonical URL
- 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
Other formats
Bibliographic details
- Published: February 20, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451831436.002
Overview
- 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 and Outlook
- Inflation is expected to reach 9½ percent in 2008.
- Inflation is expected to decline to 6 percent in 2009, led by a decline in commodity prices and weaker demand.
Banking and Financial Sector
- Bank surveillance has been strengthened.
- Steps have been taken to reduce risks related to off-balance sheet activities.
Subject Areas and Keywords
- 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