MANILA, Philippines -- President Gloria Macapagal-Arroyo convened the National Economic Development Authority (NEDA) cluster of her Cabinet and the National Food and Energy, and Price Coordinating Councils on Tuesday.
Arroyo said that the government was working to contain inflation and ensure food security amid the global economic crisis.
"Our economic managers are always on their toes so that we can face the economic crisis," Executive Secretary Eduardo Ermita said in an interview on radio station dzRH before the start of the meeting at the Palace.
Ermita echoed statements from the President's economic team that with the country's strong fundamentals, the country's financial institutions were unlikely to suffer the same severe liquidity problems as those in the United States.
"But we are not saying that we are totally out of the woods," Ermita said.
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