MANILA. June 5: The Philippines' new Finance Secretary Ernest Leung said here Saturday he would continue the economic policy of his predecessor, Ramon Del Rosario, reports AFP.

Leung's statement came after the country's two top economic officials, Del Rosario and Central Bank Governor Jose Cuisia, left their posts in the past week and followed earlier official assurances the economic policies of President Fidel Ramos would remain unchanged.

"The programme that was started off by Secretary Del Rosario is basically a sound one," Leung said, adding he would continue his predecessor’s policy of seeking an "exit programme" from having to reach periodic financial agreements with the International Monetary Found (IMF).

He said he would maintain fiscal controls, boost revenues and try to attract the private sector to Invest in infrastructure'in order to free government funds for other projects. Del Rosario was rejected by the Congressional Commission on appointments Thursday and Cuisia announced he was resigning Friday, Cuisia said there was to connection between the departures from government of the two men. the country's main foreign debt negotiators.

They left amid an Impasse in negotiations with the IMF for a new economic programme that would unlock 800 million in new Ioans to Manila and eventually lead to an "exit programme" to end almost a decade of the fund's stewardship of the economy.

Talks with the IMF are to resume in September.

Both Cuisia and Del Rosario had been accused of subservience to the IMF by Congressmen and their departures had sparked hopes Manila would refuse to comply with the IMFs conditions.

Cuisia dismissed such hopes Friday, saying: "What they're going to find out is we're going to be with the IMF for some time, much to their dismay."