THERE is an urgent need for capital restoration plans for the Land Bank of the Philippines (LandBank) and the Development Bank of the Philippines (DBP), following their hefty contributions to the Maharlika Investment Corp.'s (MIC) startup capital, according to the International Monetary Fund (IMF).
In its Philippine Staff Report, the IMF warned against potential risks to the financial system if the capital restoration plans are not promptly enacted and regulatory relief measures are not phased out swiftly.
