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Manila Bulletin devider Philippines devider National devider IMF head says PH an 'exceptionally well-performing' country amid turbulence

IMF head says PH an 'exceptionally well-performing' country amid turbulence

Published Jan 18, 2023 01:50 pm

ZURICH, Switzerland — The International Monetary Fund (IMF) lauded President Ferdinand "Bongbong" Marcos Jr. for his leadership amid the various "

more complex challenges" that the Philippines faced.

President Ferdinand ‘Bongbong’ Marcos Jr. and International Monetary Fund managing director Kristalina Georgieva meet on the sidelines of the 2023 World Economic Forum in Davos, Switzerland, on Jan. 17, 2023. (Malacañang photo)

IMF managing director Kristalina Georgieva said this during a bilateral meeting with Marcos on the sidelines of the 2023 World Economic Forum (WEF) in Davos.

According to Georgieva, the IMF thought what Marcos did over the past year was "quite commendable."

"We found the Philippines to be an exceptionally well-performing country," she said.

"What you have done in the last year of turbulence to sustain growth is quite commendable," she added.

Georgieva said the IMF was ready to help its member countries, including the Philippines, achieve sustainable growth and push for economic policies to benefit more of their people. The Philippines joined the IMF on December 27, 1945.

"We have been really interested in engaging more deeply with our members to recognize the traditional challenges. They are still there," she said.

In the meeting, President Marcos raised the need to "go back to the basics," noting the number of challenges faced by the country, especially in the food supply.

"There are weaknesses in different systems like food supply, energy, infrastructure, and climate change. These are the basic problems that we need to be addressing," he said.

Marcos also affirmed his administration's push to scale up digitalization initiatives, which are vital in making the bureaucracy more efficient and effective.

"If you are adept with new technologies, you are already at forefront... so that's basically how we are approaching the problem," he said.

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

On Tuesday, the President and First Lady Louise Araneta-Marcos joined WEF founder and Chair Dr. Klaus Schwab and his wife, Hilde, in a private dinner.

Dr. Schwab invited President Marcos to attend the WEF during a meeting on the sidelines of the Association of Southeast Asian Nations (ASEAN) summits in Phnom Penh.

Related Tags

Bongbong Marcos IMF 2023 WEF World Economic Forum Kristalina Georgieva International Monetary Fund Trip to Switzerland President Marcos
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