BSP and IMF Hold Joint Workshop on the Philippine Economy
The Bangko Sentral ng Pilipinas (BSP) and the International Monetary Fund (IMF) jointly held a workshop on “Managing Opportunities and Risks in the Philippine Economy” on 9 December 2010 at the BSP Complex in Manila. The workshop aimed to foster an interactive exchange of views on the latest research and thinking on the Philippine economy from the various government agencies, private sector stakeholders, the academe, and the IMF staff.
BSP Governor Amando M. Tetangco Jr., in his opening statement, said that the workshop will serve to elicit useful ideas about the risks and opportunities faced by the country, stressing the responsibility to strengthen the economy and enhance its resiliency to withstand uncertainty.
The workshop had four sessions which featured presentations from the perspectives of the IMF, the national government, the private sector, and the academe. The first session delved into monetary policy challenges in the Philippines after the crisis; the second on growth-friendly fiscal consolidation; the third on the role of early-warning exercises and reserve adequacy for managing external risks; and the last session focused on the external outlook and raising potential growth in the Philippines.