Philippines: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines

2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines

Volume/Issue: Volume 2021 Issue 177

Publication date: August 2021

ISBN: 9781513586519

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Business and Economics - Statistics , International - Economics , money market rate , government transaction , financial asset , headline inflation , CPI data , IMF capacity development assistance , inflation outlook , FSI website , COVID-19 , Economic recovery , Fiscal stimulus , Liquidity requirements , Budget planning and preparation , Global

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Summary

The economy is recovering after a major, pandemic-induced economic downturn. The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability. The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections. Vaccination has started and is poised to accelerate from midyear.