WE are not at all surprised that the International Monetary Fund (IMF) decided this week to ‘review’ its Philippine growth outlook for 2015. In fact, if there’s one question we would like to ask the global lending giant it would be, “What took you so long?”

The IMF’s decision came in the wake of the unexpectedly low GDP growth rate of 5.2 percent in the first quarter of this year, which was far below the forecast range of 6 percent to 6.8 percent suggested by analysts and government officials. The IMF had predicted a growth rate of 7.3 percent prior to the release of the official data last Thursday.

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