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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

Asian stocks down as US, Europe prick growth hopes

May 14, 2010 - 2:24pm

Asian stock markets mostly fell Friday as Europe's fiscal austerity measures and stubbornly high unemployment in the US undermined faith in the global economic recovery.

Oil falls below $74 amid signs demand may slacken

May 14, 2010 - 1:12pm

Oil prices fell below $74 a barrel Friday in Asia amid expectations a slower economic recovery in debt-saddled Europe will weigh on crude demand.

Europe's debt crisis heightens

February 7, 2010 - 12:00am

Fears of another crisis spiral for the world economy deepened Friday after the Portuguese parliament defeated a government austerity plan, triggering renewed concern that the financial crisis in that country and...

Business

EU welcomes German move to open labour market to east Europeans

July 27, 2007 - 12:05am

Nation