PHILSTAR: DICK PASCUAL
-From the Veterans Memorial Medical Center, Ms. Arroyo said she was gratified that the country was now in a much stronger position in relation to the IMF. It was in 2006 during her term that the Philippines was able to repay in full the accumulated Philippine debts to the IMF and free itself from its constricting conditionalities. She said this liberation from the IMF was made possible by her administration's fiscal reforms and unbroken growth achieved, leading to a strong peso, healthy reserves, and unprecedented economic resiliency.
-From the Veterans Memorial Medical Center, Ms. Arroyo said she was gratified that the country was now in a much stronger position in relation to the IMF. It was in 2006 during her term that the Philippines was able to repay in full the accumulated Philippine debts to the IMF and free itself from its constricting conditionalities. She said this liberation from the IMF was made possible by her administration's fiscal reforms and unbroken growth achieved, leading to a strong peso, healthy reserves, and unprecedented economic resiliency.
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