BTr, IMF deepen fiscal cooperation

The Bureau of the Treasury and the International Monetary Fund are deepening cooperation on public financial management reforms, fiscal transparency, and treasury operations as the Philippines works to strengthen its fiscal institutions.

The Treasury said Treasurer Sharon P. Almanza led the July 1, 2026, meeting with Sailedra Pattanayak, division chief of the IMF Fiscal Affairs Department, in Manila.

Deputy Treasurer Eduardo Anthony Mariño III, Deputy Treasurer Kenneth Ian Francisco, and Officer-in-Charge Deputy Treasurer Ma. Nanette Diaz also joined the meeting, according to the Treasury.

The meeting focused on strategic capacity development and stronger coordination on fiscal and debt management initiatives.

The Treasury said the discussions identified priority areas for enhanced technical cooperation between the Philippines and the IMF.

The talks also centered on harmonizing technical assistance from the IMF and the World Bank to support the country’s evolving fiscal priorities.

The areas of cooperation include modernized public financial management and enhanced market development.

Participants discussed ways to advance cash and debt management, fiscal risk management, fiscal transparency, and government financial systems.

The Treasury said the talks included the possible use of machine learning and other artificial intelligence tools to improve cash flow forecasting and overall treasury operations.

Both sides also exchanged views on strengthening fiscal reporting, with emphasis on transparent disclosure of contingent liabilities.

Contingent liabilities are potential government obligations that may arise from guarantees, public-private partnerships, litigation, or other commitments, and their disclosure is closely watched by investors and fiscal monitors because they can affect future public finances.

The IMF describes capacity development as technical assistance and training for member countries, including work on public financial management, fiscal policy, and institutional frameworks.

For the Treasury, the engagement comes as government debt management remains a key fiscal issue amid elevated borrowing needs and market uncertainty.

The meeting reinforced what the Treasury described as a longstanding partnership between the BTr and the IMF, as well as a shared commitment to strengthening fiscal institutions through responsive and impact-driven capacity development.

The Treasury said both parties identified opportunities to expand cooperation through regional training activities, targeted technical assistance, and the exchange of international best practices.

These initiatives are expected to support the bureau’s continuing public financial management reforms by strengthening institutional capacity, improving fiscal transparency, and enhancing treasury operations.

The Treasury said the cooperation also upholds the government’s commitment to sound fiscal governance and long-term fiscal sustainability.