January 17, 2023
President Ferdinand R. Marcos Jr. held a bilateral meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), as the World Economic Forum (WEF) commenced in Davos, Switzerland.
During the meeting, the President raised the need to “go back to basics”, noting the number of challenges that the Philippines is confronting at present, especially in food supply. Nonetheless, he affirmed the government’s commitment to scale up its digitalization initiatives that are vital in making the bureaucracy more efficient and effective.
In response, the IMF Managing Director commended the Chief Executive for his leadership and expressed readiness to support its member countries, including the Philippines, in achieving sustainable growth and pushing for economic policies for the benefit of Filipinos.
Established in 1944, the IMF is an international financial institution that ensures the stability of the international monetary system. The Philippines has been a member of the IMF since 27 December 1945 and is represented by the Department of Finance (DOF) Secretary and the Bangko Sentral ng Pilipinas (BSP) Governor to the IMF’s Board of Governors, its highest decision-making body.
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