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    Posted March 11, 2014 by

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    IMF to review Phl economy after disasters

    THE Philippine government on Monday said it welcomes the assessment by the International Monetary Fund (IMF) this week, adding it will also cooperate on the review of the country’s economy.
    It was reported that a team from the IMF is set to visit the Philippines this week for its annual evaluation of the economy.
    The IMF review will focus on the ongoing reconstruction efforts after typhoon "Yolanda," the country’s external accounts and the government efforts to make economic growth trickle down to the poor.
    Asked by reporters if he thinks the country will pass the review, Presidential Spokesman Edwin Lacierda said he can’t predict the outcome but the government will present its reconstruction plan.
    “Secretary (Panfilo) Ping Lacson and all the concerned agencies and others will certainly be meeting with them,” he told reporters.
    The National Economic and Development Authority (NEDA) is one of the concerned agencies doing post-disaster assessment.
    Lacierda said the administration is confident because it has the budget for reconstruction in addition to pledges of assistance by foreign governments and organizations.
    He also emphasized the role of the private sector in rebuilding areas devastated by Typhoon Yolanda, which is a great help for the government.
    The IMF expects the Philippine economy to grow by 6.3 percent this year, slower than last year’s 7.2 percent.
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