Aquino, IMF head meet in Davos


International Monetary Fund (IMF) chief Christine Lagarde reacts during a news conference at the IMF and World Bank’s annual general assembly in Tokyo, Thursday, October 11, 2012. AP FILE PHOTO

DAVOS, Switzerland—He missed her courtesy call during her trip to Manila last November, but President Aquino made it up to International Monetary Fund (IMF) managing director Christine Lagarde on the sidelines of the World Economic Forum here.

The meeting between the President and Lagarde also happened after the IMF had upgraded its growth forecasts for the Philippines for this year and 2014 while tempering its outlook for the rest of the world.

Mr. Aquino and Lagarde exchanged pleasantries for about 40 minutes on Thursday night. Mr. Aquino received Lagarde, considered one of the most influential women in the world, in the chalet that served as the President’s official residence here.

Higher growth forecast

The IMF’s higher growth forecasts of 6 percent this year and 5.5 percent next year for the Philippines represent a substantial upgrade from its earlier forecast of 4.8-percent growth for both years.

“They said that based on their analysis, things were looking very positive for the Philippines and that they were confident that the growth targets could be attained, given the momentum that we‘ve had,” Communications Secretary Ricky Carandang said in a briefing for Filipino reporters.

The President also discussed with Lagarde some of the Philippines’ iniatives to pump-prime growth, including prudent government spending and easing regulations to encourage foreign investment.

President Aquino thanked Lagarde for her confidence in the Philippines, Carandang said.

Present during the meeting were Foreign Secretary Albert del Rosario, Budget Secretary Florencio Abad, Finance Secretary Cesar Purisima, Trade Secretary Gregory Domingo, Secretary to the Cabinet Rene Almendras and Economic Planning Secretary Arsenio Balisacan.

Get Inquirer updates while on the go, add us on these apps:

Inquirer Viber

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • bongarroyo

    kukulo na naman ang pantog ng mga talangka sa balitang ito…hahahaha

    mga utak biya asan na kayo??

    hatak pababa hataaak…LOL

    • Erwin Ross V. Dalao

      kukulo na naman ba? hahahahahahaaaaa

  • dennis

    “Mr. Aquino and Lagarde exchanged pleasantries for about 40 minutes on Thursday night.” 
    Mukhang pinupuri ni Lagarde (IMF) si Pnoy dahil gusto na namang umutang para sa EU economic crisis.Tagilid ang EU( European Union) ngayon at nagkakagulo! Great Britain´s Prime Minister James Cameron wants to pull out his country from EU that may cause as a factor to destabilize Europe´s economy.

    • kismaytami

      IMF, the middleman. Siyempre sa IMF lang yung tubo. LOL!

  • DakuAkongUtin

    Sobrang hanga hanga nyo dyan sa ma European wthie trash, lubog na yang Europe.  Why afre you looking so highly on these people and their money? they will use you big time. Napaka mang mang naman ninyo.

    • H_A_B_A_G_A_T

      Kaya pala padami ng padami ang intsik dito sa europe.

  • Atlason

    So what if Aquinot met with Lagarde? The fact remains that a very large percentage of the Filipino people are immersed in abject poverty back home and all those rosy stats cannot be eaten by the hungry populace. Corruption in the Aquino administration is also worse than ever, with smuggling at an all time high putting more corrupt and ill-gotten wealth into the bank accounts of Aquino and his beloved KKK’s. What happened to Aquino’s promise back in 2010 that he will open his bank account to the public in the name of transparency? Nothing! Aquino’s hidden wealth must now run into billions of pesos compliments of his well-protected KKK’s who are doing the corruption in his behalf.

  • disqusted0fu

    A forecast is just a prediction. It does not mean that we will automatically experience growth from that. Hopefully we will, but at the end of the day it still comes down to the performance of the PH leaders. Being that the leader of the leaders is Pnoy, that forecast might just lead to disappointments. If you think of it, aside from the useless no wang wang policy, what other beneficial policies has Pnoy made? What major accomplishments has he done? Everything are just credit upgrades and that’s about it. 

  • Edgardo Mendoza


    • FILIPINOpatriot4ever

       Isa ka siguro sa mga tambay at akyat bahay.hahaha!

  • Your_King

    With all the supposed good scores that the Philippines’ is receiving for potential of investments unfortunately that’s all its been potential…Aquino has failed during his term to get any major investors investing in the Philippines. He’s in Davos trying to get investors but his time is being overshadowed by complaining about his predecessor. What he’s achieved in Philippines is nothing more than politically motivated selfish acts that benefit himself and his KKK.

  • FILIPINOpatriot4ever

    God bless the Philippines.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


editors' picks




latest videos