FinObservatory

Crisis atlas / PHL

Philippines

34 distinct crisis events in 6 episodes, 1901–2001, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

14
Banking crises
10
Currency crises
10
Sovereign debt crises
34
Crisis events
1901–2001
Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

  1. 2001
    Bankinglaeven_valencia, rr2 sources
  2. 2000
    Currencyrr1 source
    Bankinglaeven_valencia, rr2 sources
  3. 1999
    Bankinglaeven_valencia, rr2 sources
  4. 1998
    Currencygmd, laeven_valencia2 sources
    Bankinglaeven_valencia, rr2 sources
  5. 1997
    Currencyrr1 source
    Bankinggmd, laeven_valencia, rr3 sources
  6. 1992
    Sovereign debtgmd, laeven_valencia, rr3 sources
  7. 1991
    Sovereign debtrr1 source
  8. 1990
    Sovereign debtrr1 source
    Currencyrr1 source
  9. 1989
    Sovereign debtrr1 source
  10. 1988
    Sovereign debtrr1 source
  11. 1987
    Sovereign debtrr1 source
    Bankingrr1 source
  12. 1986
    Sovereign debtrr1 source
    Bankinglaeven_valencia, rr2 sources
  13. 1985
    Sovereign debtrr1 source
    Bankinglaeven_valencia, rr2 sources
  14. 1984
    Sovereign debtrr1 source
    Currencyrr1 source
    Bankinglaeven_valencia, rr2 sources
  15. 1983
    Sovereign debtgmd, laeven_valencia, rr3 sources
    Currencygmd, laeven_valencia, rr3 sources
    Bankinglaeven_valencia, rr2 sources
  16. 1982
    Bankingrr1 source
  17. 1981
    Bankinggmd, rr2 sources
  18. 1980
    Bankingrr1 source
  19. 1971
    Currencyrr1 source
    Bankinggmd1 source
  20. 1962
    Currencygmd, rr2 sources
  21. 1908
    Currencygmd, rr2 sources
  22. 1901
    Currencygmd, rr2 sources

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

1901

Currency

No macro panel coverage for this window.

1908

Currency

No macro panel coverage for this window.

1962

Currency
Inflation (% y/y)
-50510195719621967
Policy rate (%)
02.557.5195719621967
Govt debt (% of GDP)
01020195719621967

1971

BankingCurrency
Inflation (% y/y)
02040196619711976
Policy rate (%)
No data for this window
Govt debt (% of GDP)
01020196619711976

1980–1992

BankingCurrencySovereign debtFiscal cost 3.0% of GDP, output loss 91.7% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
0204060197519801997
Policy rate (%)
01020197519801997
Govt debt (% of GDP)
050100197519801997

1997–2001

BankingCurrencyFiscal cost 13.2% of GDP, output loss 0.0% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
051015199219972006
Policy rate (%)
051015199219972006
Govt debt (% of GDP)
0255075199219972006

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology