IMF: Philippines is prepared to weather storm of U.S. Fed tapering

09/24/2013 | Philippine Daily Inquirer

The Philippine economy is likely to maintain a robust rate of growth even in the face of the U.S. Federal Reserve's anticipated cutback in its bond-buying program, according to the International Monetary Fund. Growth in gross domestic product is likely to amount to 6.75% this year and 6.0% next year after 6.8% growth in 2012, the IMF said. "When tapering does eventually begin, the Philippines' strong fundamentals ... position the economy to adjust smoothly to the accompanying capital flow reversal and slowdown in regional growth," the IMF's Rachel van Elkan said in a statement

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