News: IMF chief lauds Phl's economic policies -
16 Nov 2012
MANILA, Philippines - International Monetary Fund (IMF) Managing Director Christine Lagarde on Friday expressed support to the Philippines' economic blueprint in making growth more inclusive, increasing revenues and making sure monetary policy remains appropriate.
Lagarde, who concluded her Asian tour by visiting the Philippines, also praised the conditional cash transfer program as a way to make growth "as inclusive as possible."
"Growth must benefit the broader sector of the population," she said, noting that the Philippines has posted an average of five percent growth over the past decade.
The IMF, she said, sees the Philippine economic expansion to hit "in excess of five percent" this year. The Philippine economy grew by 6.1 percent as of the first semester.
The IMF czar took note of the BSP's performance of making sure there is "sensible appreciation" of the peso against the dollar. This was amid concerns the peso is appreciating too much to the detriment of dollar-earning exporters and remittance recipients.
(Source: Philstar.com , By Prinz Magtulis, November 16, 2012)