Manila, April 25 -- The Philippine government has called on international financial institutions (IFIs) to boost their support to emerging markets and developing economies (EMDEs) like the Philippines amid increasing global headwinds.

In a statement Friday, the Department of Finance (DOF) said this was the message of Secretary Ralph Recto, delivered by Undersecretary Joven Balbosa, during the Intergovernmental Group of Twenty-Four (G24) Ministers and Governors Meeting at the IMF Headquarters in Washington D.C last April 22.

"International financial institutions, such as the World Bank and the International Monetary Fund (IMF), must be adequately equipped and are called upon to step in more decisively to support EMDEs through timely and ...