{
  "title": "Philippines: Staff Report for the 2006 Article IV Consultation",
  "publication": "IMF Staff Country Reports, February 13, 2007",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-staff-report-for-the-2006-article-iv-consultation-20430",
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  "summary": "The 2006 Article IV Consultation on the Philippines discusses stronger exports and reduced inflation, with the 12-month rate back within the inflation target.",
  "publishDate": "2007-02-13",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Major findings on recent economic developments",
      "content": "- Stronger exports contributed to improved performance in 2006.\n- The 12-month rate of inflation returned to within the inflation target.\n- Remittances continued to grow strongly.\n- The balance of payments received additional support in the second half of 2006 from weaker oil prices."
    },
    {
      "heading": "Banking sector and financial stability",
      "content": "- Executive Directors observed that the stock of repossessed real estate assets remains large.\n- 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."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Continued reforms are necessary to boost investment.\n- Continued reforms are necessary to accelerate progress in reducing poverty."
    },
    {
      "heading": "Thematic coverage and keywords",
      "content": "- Subjects: Banking, Economic sectors, External debt, Foreign exchange, Inflation, Prices, Public debt, Public sector\n- 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\n\n---\n\n Content in this bundle\n\n- cr0762\n  - cr0762 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0762 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/philippines-staff-report-for-the-2006-article-iv-consultation-20430"
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    "Published: February 13, 2007",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451831399.002",
    "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.",
    "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.",
    "Continued reforms are necessary to boost investment.",
    "Continued reforms are necessary to accelerate progress in reducing poverty.",
    "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",
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