The International Monetary Fund (IMF) urged the Bangko Sentral ng Pilipinas (BSP) to closely monitor banks’ exposure to the manufacturing and public sectors amid lingering uncertainty over global trade policies.
In a report following its Article IV Consultation with the Philippines, the IMF noted that the manufacturing sector’s earnings remain subdued and global trade woes pose risks to manufacturing and wholesale or retail lending.
“The earnings in the manufacturing sector have been weak and the soundness of manufacturing and wholesale or retail loans, accounting for about 19% of domestic loans at end-August 2025, could be affected by adverse global trade developments,” it said.
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