Abstract
The gradual depreciation of the peso against the dollar, the resulting increases in domestic prices of oil products, hike in taxes, as well as imposition of other tax measures to boost government revenues, are but a few of the many measures the International Monetary Fund (IMF) has imposed as preconditions for the approval of the stand-by credit facilities. The heavy price that the so-called performance criteria exacts on our ailing economy has raised bitter criticisms from the public against the apparent meddling of IMF in our socio-economic-political life. On the other hand, IMF contends that such austerity measures are directed at "correcting the effects of inappropriate policies and of lasting deterioration in terms of trade."
Recommended Citation
Buhain, Ed
(1989)
"The Role of IMF on Philippine Foreign Exchange Stability,"
DLSU Business & Economics Review: Vol. 2:
No.
1, Article 10.
DOI: https://doi.org/10.59588/2243-786X.1639
Available at:
https://animorepository.dlsu.edu.ph/ber/vol2/iss1/10
