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The Philippines has contributed $1 billion to the latest lending facility of multilateral lender International Monetary Fund (IMF) that has already reached $456 billion to address financial crises including the sovereign debt debacle in Europe.
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From being a user of the resources of the International Monetary Fund for decades, the Philippines has attained creditor status, with half of its $251.5-million contribution to the IMF as of December tapped to help European countries such as Ireland, Portugal and Greece ease the impact of the financial crisis in the euro zone, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
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WASHINGTON (AP) – Finance ministers see signs the global economy is stabilizing but are cautioning it will take until the middle of next year for the world to emerge from the worst recession in decades.
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NEW ARRANGEMENTS

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From being a user of the resources of the International Monetary Fund for decades, the Philippines has attained creditor status, with half of its $251.5-million contribution to the IMF as of December tapped to help European countries such as Ireland, Portugal and Greece ease the impact of the financial crisis in the euro zone, the Bangko Sentral ng Pilipinas (BSP) said yesterday.
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abtest

Phl commits $1B to beef up IMF coffers

By Lawrence Agcaoili | June 20, 2012 - 12:00am

The Philippines has contributed $1 billion to the latest lending facility of multilateral lender International Monetary Fund (IMF) that has already reached $456 billion to address financial crises including the sovereign...

Business

Phl now a creditor nation

By Lawrence Agcaoili | February 22, 2012 - 12:00am

From being a user of the resources of the International Monetary Fund for decades, the Philippines has attained creditor status, with half of its $251.5-million contribution to the IMF as of December tapped to help...

Headlines

Finance ministers encouraged but wary over global economy

April 26, 2009 - 7:00pm

WASHINGTON (AP) – Finance ministers see signs the global economy is stabilizing but are cautioning it will take until the middle of next year for the world to emerge from the worst recession in decades.