{
  "title": "Philippines: 2010 Article IV Consultation—Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Philippines",
  "publication": "IMF Staff Country Reports, March 1, 2011",
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  "summary": "After the global financial crisis, economic growth of the Philippines has increased. However, renewed shocks to global growth and financial markets would affect Philippine exports and remittances.",
  "publishDate": "2011-03-01",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary of macroeconomic assessment",
      "content": "- After the global financial crisis, economic growth of the Philippines has increased.\n- Renewed shocks to global growth and financial markets would affect Philippine exports and remittances.\n- The planned gradual withdrawal of fiscal stimulus and the focus on medium-term consolidation are welcomed."
    },
    {
      "heading": "Monetary policy and liquidity",
      "content": "- The Bangko Sentral ng Pilipinas (BSP) appropriately has started to unwind its liquidity support measures since early 2010.\n- Traditional toolkits are available for managing external inflows."
    },
    {
      "heading": "External sector and capital flows",
      "content": "- Capital inflows and external developments are key vulnerabilities: shocks to global growth and financial markets would affect exports and remittances.\n- Traditional policy tools exist to manage external inflows."
    },
    {
      "heading": "Fiscal policy, public investment, and development planning",
      "content": "- The report supports the planned gradual withdrawal of fiscal stimulus and emphasis on medium-term fiscal consolidation.\n- Public–private partnership programs can play an important role.\n- A medium-term Philippine development plan could also be prepared."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Balance of payments, Capital inflows, External debt, Inflation, Prices, Public debt, Remittances\n- Keywords: broad money growth, Capital inflows, CR, deficit, demand-side price pressure, Global, growth, IMF staff projection, Inflation, inflation expectation, inflation outlook, ISCR, rate, Remittances\n\n---\n\n Content in this bundle\n\n- cr1159\n  - cr1159 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr1159 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-2010-article-iv-consultation-staff-report-staff-statement-public-information-24676"
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    "Published: March 1, 2011",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781455219964.002",
    "After the global financial crisis, economic growth of the Philippines has increased.",
    "Renewed shocks to global growth and financial markets would affect Philippine exports and remittances.",
    "The planned gradual withdrawal of fiscal stimulus and the focus on medium-term consolidation are welcomed.",
    "The Bangko Sentral ng Pilipinas (BSP) appropriately has started to unwind its liquidity support measures since early 2010.",
    "Traditional toolkits are available for managing external inflows.",
    "Capital inflows and external developments are key vulnerabilities: shocks to global growth and financial markets would affect exports and remittances.",
    "Traditional policy tools exist to manage external inflows.",
    "The report supports the planned gradual withdrawal of fiscal stimulus and emphasis on medium-term fiscal consolidation.",
    "Public–private partnership programs can play an important role.",
    "A medium-term Philippine development plan could also be prepared.",
    "Subjects: Balance of payments, Capital inflows, External debt, Inflation, Prices, Public debt, Remittances",
    "Keywords: broad money growth, Capital inflows, CR, deficit, demand-side price pressure, Global, growth, IMF staff projection, Inflation, inflation expectation, inflation outlook, ISCR, rate, Remittances",
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