{
  "title": "Philippines: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of the Executive Director for the Philippines",
  "publication": "IMF Staff Country Reports, April 2, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-2007-article-iv-consultation-staff-report-public-information-notice-on-the-21846",
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  "summary": "Economic stability of the Philippines was discussed in this report. Private investment remained low by regional standards, but there are tentative signs of a revival. These developments and favorable global conditions led to a surge in foreign exchange inflows and the external value of the peso.",
  "publishDate": "2008-04-02",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Economic stability — main findings",
      "content": "- Economic stability of the Philippines was discussed in this report.\n- Private investment remained low by regional standards, but there are tentative signs of a revival.\n- These developments and favorable global conditions led to a surge in foreign exchange inflows and the external value of the peso."
    },
    {
      "heading": "External sector and the peso",
      "content": "- Surge in foreign exchange inflows.\n- Appreciation in the external value of the peso associated with inflows and favorable global conditions."
    },
    {
      "heading": "Inflation and monetary policy",
      "content": "- Inflation remained low because of an appreciating peso and prudent monetary policy."
    },
    {
      "heading": "Fiscal policy and tax effort — recommendations and legislative actions",
      "content": "- The authorities are encouraged to strengthen the tax effort.\n- Legislation is being considered to restore the tax base by rationalizing fiscal incentives and adjusting excise taxes."
    },
    {
      "heading": "Subject tags and keywords (as provided)",
      "content": "- Subject: Economic sectors, Exchange rates, External debt, Foreign exchange, Public debt, Public sector\n- Keywords: Asia and Pacific, CR, Exchange rates, FX insurance, Global, headline inflation, heightened investor interest, investor, investor confidence, ISCR, privatization receipt, protection product, Public sector, rate\n\nPhilippines: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of the Executive Director for the Philippines (IMF Staff Country Reports), April 2, 2008.\n\n---\n\n Content in this bundle\n\n- cr08119\n  - cr08119 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr08119 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-2007-article-iv-consultation-staff-report-public-information-notice-on-the-21846"
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    "Published: April 2, 2008",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451831412.002",
    "Economic stability of the Philippines was discussed in this report.",
    "Private investment remained low by regional standards, but there are tentative signs of a revival.",
    "These developments and favorable global conditions led to a surge in foreign exchange inflows and the external value of the peso.",
    "Surge in foreign exchange inflows.",
    "Appreciation in the external value of the peso associated with inflows and favorable global conditions.",
    "Inflation remained low because of an appreciating peso and prudent monetary policy.",
    "The authorities are encouraged to strengthen the tax effort.",
    "Legislation is being considered to restore the tax base by rationalizing fiscal incentives and adjusting excise taxes.",
    "Subject: Economic sectors, Exchange rates, External debt, Foreign exchange, Public debt, Public sector",
    "Keywords: Asia and Pacific, CR, Exchange rates, FX insurance, Global, headline inflation, heightened investor interest, investor, investor confidence, ISCR, privatization receipt, protection product, Public sector, rate",
    "**_cr08119**"
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