{
  "title": "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",
  "publication": "IMF Staff Country Reports, February 20, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-2008-article-iv-consultation-staff-report-staff-supplement-public-information-22718",
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  "summary": "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.",
  "publishDate": "2009-02-20",
  "series": "IMF Staff Country Reports",
  "sections": [
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      "heading": "Overview",
      "content": "- The staff report for the Philippines’ 2008 Article IV Consultation is focused on economic developments and policies.\n- A deepening of the global economic downturn presents downside risks to this outlook."
    },
    {
      "heading": "Inflation and Outlook",
      "content": "- Inflation is expected to reach 9½ percent in 2008.\n- Inflation is expected to decline to 6 percent in 2009, led by a decline in commodity prices and weaker demand."
    },
    {
      "heading": "Banking and Financial Sector",
      "content": "- Bank surveillance has been strengthened.\n- Steps have been taken to reduce risks related to off-balance sheet activities."
    },
    {
      "heading": "Subject Areas and Keywords",
      "content": "- Subject: Banking; Economic sectors; External debt; Fiscal policy; Global financial crisis of 2008-2009; Inflation; Prices; Public debt; Public sector\n- 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\n\n---\n\n Content in this bundle\n\n- cr0962\n  - cr0962 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0962 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-2008-article-iv-consultation-staff-report-staff-supplement-public-information-22718"
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    "Published: February 20, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451831436.002",
    "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.",
    "Inflation is expected to decline to 6 percent in 2009, led by a decline in commodity prices and weaker demand.",
    "Bank surveillance has been strengthened.",
    "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",
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