IMF Staff Country Reports

Philippines: Selected Issues

Publication Date:

February 20, 2009

Electronic Access:

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Summary:

This Selected Issues paper for the Philippines has been prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. Spillovers have been particularly prominent for countries with financial systems with high foreign bank participation, large exposures to ailing global financial institutions and structured products, and high external liabilities, including through wholesale funding. With a nascent capital market, the economy’s exposure to securitization and off-balance sheet activities is limited. The presence of foreign capital remains low in both the capital market and the banking system.

Series:

Country Report No. 2009/063

Subject:

Automatic stabilizers Balance of payments Banking Expenditure Fiscal policy Fiscal rules Remittances