The Philippines retains its net creditor status under the IMF.

The Philippines has retained its net creditor status with the International Monetary Fund (IMF), underscoring the country’s solid macroeconomic fundamentals, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday.

The Philippines’ participation in the IMF’s Financial Transaction Plan (FTP) will begin this month and run until December 2025.

“The Philippines’ strong external position supports the country’s development goals, which will benefit the Filipino people,” the central bank said.

The Philippines, a permanent member of the IMF since 1956, began participating in the institution’s FTP in August 2010 after its central bank was granted creditor member status.

The FTP is a currency swap arrangement between the IMF and eligible members that supports IMF lending operations. Participants, such as the Philippines, receive interest payments from the IMF.

The decision to grant FTP membership is made based on a country’s balance of payments, reserve level, market stability and sufficient foreign exchange reserves to meet commitments.

“Given that the country’s external position remains strong and its gross foreign exchange reserves are sufficient to withstand external shocks, the country has been assessed as eligible for continued participation in the FTP,” the BSP said.

“This places the Philippines in a favorable position to remain a financial partner of the Fund, demonstrating the country’s commitment to contributing to the global financial safety net and supporting the resolution of possible crises,” it added.