The time under his supervision at the Institute for International Economics - with my fellow doctoral students Katrin Assenmacher and Susanne Janeba - was indeed a time I fondly remember. As a thesis supervisor, Manfred struck the right balance between freedom and direction, motivation and criticism, respect and provocation.
This move directed capital to this important sector that employs two-thirds of Filipino workers’ and increased the volume of loans to MSMEs by almost 1,400 percent from April to November 2020. Speaking of banks, the country’s banking sector entered the crisis with adequate capital.