As opposed to bleaker previous economic forecasts made in the last quarter of 2009, the International Monetary Fund (IMF) yesterday released a new and more optimistic forecast of economic activities for this year. In its reports, the IMF stated that recovery in advanced economies “is still expected to be weak by historical standards, with real output remaining below its pre-crisis level until late 2011,” but emerging and developing countries will have relatively more vigorous activities due to strong internal demands. The IMF also expects inflation rates to be kept at a minimum in most economies due to excess capacity.

Some of these countries in particular include Southeast nations such as Thailand, Indonesia and the Philippines. According to a study conducted by the Asian Development Bank (ADB), “prospects for 2010 look relatively good in the Philippines with domestic factors such as rebuilding work in the wake of two devastating typhoons in 2009, and national elections, likely to fuel growth”.

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