The Philippines has urged international financial institutions (IFIs) to increase their assistance to emerging markets and developing economies (EMDEs) amid escalating global challenges and risks. “International financial institutions, such as the World Bank and the International Monetary Fund...
Amid a looming global trade war, the World Bank slashed its 2025 and 2026 growth forecasts for the Philippines to levels that would bring two-year economic expansion to their slowest pace post-pandemic. According to the Washington-based multilateral lender’s East Asia and Pacific Economic Update...
While the Philippines has made strides in reducing poverty, uncertainties wrought by the looming global trade war may reverse some gains, according to the World Bank. "Employment indicators suggest continued poverty reduction since 2023. The unemployment rate fell to 3.8 percent in 2024 (from 4.4...
The World Bank believes that an additional 5.1 million jobs can be created in the Philippines during the next 15 years if the country fast-tracks reforms conducive to labor market growth and enhancement. In an April 18 brief, the Washington-based multilateral lender said that an upcoming Country...
The World Bank would greenlight a $700-million (over ₱40-billion) loan for the Philippines in July, aimed at making local communities more resilient to natural disasters. According to a World Bank appraisal project information document dated April 8, the objective of the upcoming Philippines...
The Philippines will repay until 2053 two of the four loans greenlit by the Washington-based World Bank last month, worth a total of $950.54 million or about ₱54.6 billion, that will finance health services and transport connectivity in Mindanao and other poor provinces in the country. World...
The Washington-based multilateral lender World Bank has approved an $800-million, or approximately ₱45.8-billion, loan to support the Philippines’ transition to clean energy and improve water management. This fresh loan for the Philippines brought to a total of close to $1.82 billion, or about...
The Philippine peso's gains against the United States (US) dollar at the start of the year may be erased by the widening current account deficit, according to the World Bank. In its Philippines Monthly Economic Developments report for March 2025, the Washington-based multilateral lender noted that...
The national government's debt soared to a new record high of ₱16.63 trillion at the end of the first two months of 2025, putting pressure on its capability to repay obligations. The latest Bureau of the Treasury (BTr) data released on Tuesday, April 1, showed that outstanding obligations as...
After the World Bank loan for the delayed project aimed at mitigating flooding in Metro Manila was extended last year, the Washington-based multilateral lender reported implementation progress at a number of pumping stations. In a March 27 implementation status and results report, the...
With the Philippine central bank holding off on slashing key interest rates amid global economic uncertainties, the World Bank expects its recent move to lower banks’ reserve requirements to stimulate lending activity. According to the multilateral lender’s latest report on the...
The Philippines is expected to sign in July a record-high $1-billion loan agreement (over ₱57 billion) from the World Bank to fund its sustainable agricultural transformation program, according to the Department of Agriculture (DA). In a statement, the DA said Agriculture Secretary Francisco Tiu...
