Monday, 19 November 2012

IMF chief lauds PH: It’s the only nation upgraded

By Michael Lim Ubac, Michelle V. Remo
Philippine Daily Inquirer

MANILA, Philippines—The Philippines is the only country in the world for which the International Monetary Fund has upgraded its economic growth forecast for 2012, according to visiting IMF managing director Christine Lagarde.

Compared with the once-powerhouse economies of Europe and the United States, which are now struggling, the Philippines is on the road to maintaining an average growth rate of 5 percent next year, Lagarde told a press briefing in Malacañang on Friday.


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