Mga Sana/o .....
Praise the Lord !!!!
Look at this news item, seems too good to be true. Read ....
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Free at last from IMF
THE PHILIPPINES FACES A ‘PROBLEM OF PLENTY,’ SAYS BANGKO SENTRAL NG PILIPINAS GOVERNOR AMANDO M. TETANGCO JR.
By Ernesto Y. Tolentino
Special to BusinessMirror
FOR the first time in almost half a century, the Philippines has freed itself from the dictates of the International Monetary Fund (IMF) by prepaying its debt owed to the multilateral financial institution.
This was made possible by the robust growth in the nation’s dollar reserves—which as of last April hit $25.1 billion—due mainly to a combination of increased foreign exchange revenues and foreign capital inflows, coupled with prudent management of the country’s financial affairs and structural reforms introduced by the Arroyo government.
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