FINANCE SECRETARY Frederick D. Go urged multilateral lenders to offer more flexible financing to countries transitioning to upper-middle income status, citing their evolving needs as they climb the development ladder.
“The Philippines highlights the importance of a modernized partnership with the International Monetary Fund (IMF) and the World Bank,” Mr. Go said in a dialogue held on the sidelines of the 2026 World Bank Group-IMF Annual Meetings in Bangkok.
“This should expand access to flexible financing solutions for transitioning nations,” he added.
The World Bank’s latest country income classification put the Philippines gross national income (GNI) per capita at $4,850.
This made the Philippines an upper-middle income country (UMIC), or in a tier with GNI per capita ranging from $4,636 to $14,375.
Mr. Go said blended finance and enhanced credit guarantees will help mobilize private capital, mitigate investment risks, and lower financing costs.
These, he said, will help countries “sustain development momentum as financing needs evolve.”
The Department of Finance (DoF) is pursuing fiscal consolidation to expand fiscal space, optimize public spending, and fund high-impact public investments.
“Our fiscal discipline ensures we safeguard and fully fund high-impact public investments,” Mr. Go said.
“We are focused on building economic foundations for long-term growth,” he added.
He cited efforts to channel capital into the Philippines’ major strategic nodes, including the Luzon Economic Corridor. — Justine Irish D. Tabile