Philippines: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines
IMF Staff Country Reports, August 6, 2021
Source details
- Canonical URL
- Philippines: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines
Other formats
Bibliographic details
- Published: August 6, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513586519.002
Executive summary
- The economy is recovering after a major, pandemic-induced economic downturn.
- The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability.
- The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections.
- Vaccination has started and is poised to accelerate from midyear.
Major findings and context
- Recovery status:
- Economy recovering from a major, pandemic-induced downturn.
- Recovery experienced a slowdown in the first half of 2021 because of a second COVID-19 wave.
- Vaccination rollout has started and is expected to accelerate from midyear.
- Policy response:
- Authorities deployed a comprehensive set of policy responses that helped mitigate socioeconomic impacts and maintain financial stability.
Subjects and keywords covered
- Subjects:
- Budget planning and preparation
- COVID-19
- Economic growth
- Economic recovery
- Financial regulation and supervision
- Fiscal policy
- Fiscal stimulus
- Health
- International organization
- Liquidity requirements
- Monetary policy
- Public financial management (PFM)
- Keywords:
- Budget planning and preparation
- COVID-19
- CPI data
- Economic recovery
- financial asset
- Fiscal stimulus
- FSI website
- Global
- government transaction
- headline inflation
- IMF capacity development assistance
- inflation outlook
- Liquidity requirements
- money market rate
Content in this bundle
- 1phlea2021002