Multilateral Assistance Initiative for the Philippines Act of 1989

Multilateral Assistance Initiative for the Philippines Act of 1989 - Amends the Foreign Assistance Act of 1961 to express the sense of the Congress that: (1) the United States should participate with multilateral financial institutions and other bilateral donors in an economic reform and development program in the Philippines; and (2) a multiyear commitment of resources by the United States, donors, and institutions with a continued reform effort and leadership role by the Government of the Philippines will be necessary to ensure continued economic growth in the Philippines and enhanced participation of the Filipino people in the democratic process.

Authorizes the President to provide assistance on such terms as determined necessary to carry out this Act. Links assistance to progress by the Government of the Philippines in implementing its economic, structural, and administrative reform program and provides that such assistance may include programs to stimulate and strengthen private sector growth, including voluntary debt reduction and greater U.S. participation in such sector.

Requires the Secretary of State and the Administrator of the Agency for International Development, beginning with the submission of the budget request for FY 1991, to report annually to the Congress on progress in implementing the objectives of this program.

Authorizes appropriations. Limits the amount of appropriations for FY 1990. Prohibits funds appropriated for FY 1990 from being made available until the President has received a document developed by the Government of the Philippines and acceptable to the bilateral donors and multilateral financial institutions that sets forth the framework and objectives of macroeconomic, administrative, and structural reforms and voluntary debt reduction, under appropriate circumstances, which the multilateral assistance program is designed to support. Expresses the sense of the Congress that, prior to requesting additional amounts to carry out this Act, the President shall take into account: (1) the progress being made by the Philippines toward achieving such reform objectives; (2) the extent of participation by the bilateral donors and multilateral financial institutions; and (3) the efforts to coordinate the assistance program.

Expresses the sense of the Congress that: (1) coordination of programs by donors, institutions, and the Government of the Philippines is critical to the success of the Multilateral Assistance Initiative; (2) all donors should simplify procurement and disbursement procedures and ensure that conditions on the provision or use of assistance are complementary; and (3) the Philippines will ensure the most effective use of such assistance.