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PHILIPPINE CENTRAL BANK GOVERNOR WANTS IMF INSPECTIONS STOPPED.
MANILA, Feb 4 Asia Pulse - Bangko Sentral ng Pilipinas Gov. Rafael Buenaventura said the monitoring program conducted by the International Monetary Fund has outlived its usefulness and should be terminated.
He told reporters last Friday the monitoring job is better performed by such international rating firms such as Moody's Investor Service or Standard and Poor's.
"There's no need to extend the post program monitoring (PPM) scheme with the IMF. We felt that after this expires, no new program will be pursued," Buenaventura said.
The PPM, a non-loan program first pursued under jailed President Joseph Estrada's aborted tenure, is set to expire on September this year.
The central bank governor revealed they pursued the PPM for the collateral benefits it was supposed to bring, and realized the hype was significantly less than what it actually offered.
Buenaventura said countries outside of an IMF program could raise foreign financing ...
- GOVT MAY CHOOSE PPM TO EXIT FROM IMF PROGRAM.
- News wire article from: Asia Africa Intelligence Wire July 22, 2003 700+ words
...Program Monitoring (PPM) as a mechanism to...International Monetary Fund (IMF) program, a senior...who is also chief of IMF exit strategy team...Tuesday. Besides PPM, the government had...programs with the IMF successfully through PPM," Jannes said...
- IMF-mission-PPM.
- News wire article from: Asia Africa Intelligence Wire December 10, 2004 700+ words
...team from the International Monetary Fund (IMF) has recognized early signs that the administration...business climate, according to Daniel Citrin, IMF's deputy director for Asia and the Pacific...mainly by domestic consumption. The visiting IMF team arrived here for a one-week visit...
- IMF INTERVENTION STILL HIGH UNDER PPM, OBSERVERS SAY.
- News wire article from: Asia Africa Intelligence Wire July 31, 2003 700+ words
...International Monetary Fund (IMF) may still intervene...Program Monitoring (PPM) arrangement despite...open the chance for IMF to intervene in Indonesia...said. Under the PPM option, the government...have to consult the IMF and World Bank in...that with or without PPM, the level of ...
- NEW PHILIPPINE FINANCE CHIEF SUPPORTS PPM EXTENSION BEYOND 2003.
- News wire article from: Asia Africa Intelligence Wire December 8, 2003 700+ words
...year ties with the IMF by next year as the PPM has already served...government owed the IMF was suddenly lower...expectations that the PPM, in place since 2001...Buenaventura. Renewing the PPM beyond this year means...visitations by an IMF team to check on progress...
- GOVERNMENT SHOULD CORRECT PPM POLICY.
- News wire article from: Asia Africa Intelligence Wire August 12, 2003 700+ words
...correction of the Post Program Monitoring (PPM) policy to end Indonesia's cooperation with the International Monetary Fund (IMF). "Since the option through the PPM has yet to save our country from IMF intervention, the government should corret...
- Wise decision on IMF, JAKARTA POST.
- News wire article from: The America's Intelligence Wire July 30, 2003 700+ words
...Moreover, PPM does not involve new borrowing from the IMF. PPM is simply the process an IMF member such as Indonesia...first opted for a precautionary arrangement with the IMF before they entered PPM. IMF senior resident representative David Nellor welcomed...
- Wise decision on IMF.
- News wire article from: Asia Africa Intelligence Wire July 30, 2003 700+ words
...Moreover, PPM does not involve new borrowing from the IMF. PPM is simply the process an IMF member such as Indonesia...first opted for a precautionary arrangement with the IMF before they entered PPM. IMF senior resident representative David Nellor welcomed...
- Extension of IMF monitoring program eyed.
- News wire article from: Asia Africa Intelligence Wire May 19, 2003 700+ words
...arrangement is already being discussed with the IMF. The PPM required the IMF to conduct a twice-a-year review of the country...Until such time, the country could not end the PPM, a program the IMF requires countries ending a loan arrangement until...
- RP seen to remain under IMF post-program monitoring.
- News wire article from: Asia Africa Intelligence Wire October 27, 2004 700+ words
...has outstanding borrowings from the IMF." The PPM can be terminated when the outstanding...The Philippines holds semi-annual PPM discussions with the IMF each year. During the last PPM discussions in July, the IMF's biggest concerns were the country...
- IMF mission going to RP next month - BSP exec.
- News wire article from: Asia Africa Intelligence Wire April 24, 2003 700+ words
...would still be reviewed by IMF once it gets out of the PPM by February next year. "We...s eventual exit from the IMF's PPM framework in the first quarter...government decides to terminate its PPM agreement with IMF, it is likely to become final...
Source: HighBeam Research, PHILIPPINE CENTRAL BANK GOVERNOR WANTS IMF INSPECTIONS STOPPED.