By Doris Dumlao
Philippine Daily Inquirer

Close this MANILA, Philippines -- (UPDATE) The International Monetary Fund is urging the Philippine government to tighten its grip on guarantees it grants to private firms undertaking public infrastructure projects, hoping that the country will be able to sustain its fiscal momentum.

In the country assessment the IMF executive board Monday issued in Washington, DC, the fund also affirmed its forecasts on the Philippine domestic economy, expecting it to grow by 6 percent while inflation is kept at 4.4 percent this year, despite a less favorable external environment marked by a slowdown in the global economy, and rising oil and food prices.

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Posted by rjorr at March 17, 2008 11:23 PM