The unemployment rate , stands at 4.5%. Meanwhile, due to lower charges in basic necessities, the inflation rate eased to 1.7% in August 2019. Gross international reserves as of October 2013 are $83.201 billion. The Debt-to-GDP ratio continues to decline to 37.6% as of the second quarter of 2019 from a record high of 78% in 2004. The country is a net importer but it is also a creditor nation. Manila hosts the headquarters of the Asian Development Bank.