IMF to help Philippines attain sustainable growth, says Palace

Malacañang on Wednesday said the International Monetary Fund (IMF) has expressed readiness to help the Philippines in achieving sustainable growth and pushing for economic policies that would benefit more Filipinos.

In a statement issued by the Presidential Communications Office, IMF managing director Kristalina Georgieva said: "We have been really interested to engage more deeply with our members to recognize the traditional challenges…they are still there."

The IMF, a special agency of the United Nations, focuses on promoting global monetary cooperation, ensuring financial stability and facilitating international trade, among others.

The Philippines joined the IMF on December 27, 1945.

During their bilateral meeting in Davos, Switzerland on the sidelines of the World Economic Forum, Georgieva also praised President Ferdinand "Bongbong" Marcos Jr. for his leadership amid the numerous "more immune and more complex challenges" faced by the Philippines.

"We found the Philippines to be an exceptionally well-performing country…what you have done in the last year of turbulence to sustain growth… is quite commendable," Georgieva told Marcos.

For his part, Marcos raised the need to "go back to the basics," noting the number of challenges faced by the country, especially when it comes to food supply.

"We also have to go back to the basics because there are weaknesses in different systems like in food supply, like in energy, infrastructure, climate change… these are the basic problems that we need to be addressing," Marcos said.

Marcos also affirmed his administration’s push to improve digitalization initiatives, which are vital in making the bureaucracy more efficient and effective. — Anna Felicia Bajo/RSJ/KG, GMA Integrated News