Philippines reveals extent of lending to IMF

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The Central Bank of the Philippines confirmed on February 21 that its long-standing relationship with the International Monetary Fund (IMF) had evolved. From being "a prolonged user of fund resources", the central bank said the country was now instead contributing to "collective efforts in preserving the stability of the international monetary system".

In 2010, the Philippines, via the central bank, began participating in the IMF's Financial Transactions Plan (FTP) – the mechanism by which the

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