IMF names new RP resident representative

The International Monetary Fund (IMF) has appointed a Dutch economist as its new resident representative to the Philippines, replacing three-year veteran Reza Baqir.

Dennis Botman was introduced to the media yesterday, as Baqir’s assignment expires at the end of the year.

Botman is a veteran economist at the IMF assigned to the Fiscal Affairs Department, Research Department and Asia and Pacific Department of the Fund.

Botman was credited for developing the IMF’s Global Fiscal Model, with experience in the Philippines, Japan, the United States, the Czech Republic, Cambodia and Laos among other places.

“I’ve always liked working in Asia,” Botman said.

The 36-year old Botman who has a Doctorate in International Economics from the University of Amsterdam, has also been involved with at least four IMF Missions to the Philippines.

Botman will be taking over from Baqir who has been the IMF’s resident representative here since 2005.

Botman is also arriving at a time when the country is bracing against the full impact of the global economic slowdown.

Baqir has been relentless in pushing the government to complete its tax reform program and Botman would have to maneuver the IMF’s presence here to push the same agenda.

The IMF has expressed perennial concern over the sustainability of the country’s tax revenue base, insisting that its stability would not be ensured unless the government indexes its excise taxes to inflation and rationalises its fiscal incentive program.

The IMF has also been struggling to veer policy-makers away from yielding to political pressure that could force it to give up its tax reforms to cushion the impact of the global slowdown.

The Fund’s solution was for the government to instead undertake targeted relief programs such as conditional cash transfer to very poor families.