Philippines: Staff Report for the 2006 Article IV Consultation
IMF Staff Country Reports, February 13, 2007
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- Philippines: Staff Report for the 2006 Article IV Consultation
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Bibliographic details
- Published: February 13, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451831399.002
Major findings on recent economic developments
- Stronger exports contributed to improved performance in 2006.
- The 12-month rate of inflation returned to within the inflation target.
- Remittances continued to grow strongly.
- The balance of payments received additional support in the second half of 2006 from weaker oil prices.
Banking sector and financial stability
- Executive Directors observed that the stock of repossessed real estate assets remains large.
- Solving the problem of a large stock of repossessed real estate assets will be key to allowing the banking sector to contribute to investment recovery.
Policy implications and recommendations
- Continued reforms are necessary to boost investment.
- Continued reforms are necessary to accelerate progress in reducing poverty.
Thematic coverage and keywords
- Subjects: Banking, Economic sectors, External debt, Foreign exchange, Inflation, Prices, Public debt, Public sector
- Keywords: better-than-programmed National Government, CR, deficit, deficit target, fiscal policy reform, Global, Inflation, inflation outlook, ISCR, market participant, policy, policy stance, privatization receipt, Public sector, Staff Report state, statement