2. Bitcoins can be exchanged to the local currency at the cost lower than existing fiat-transfer fees. Note, even if this condition is met, there would be a huge imbalance in the direction of trade - coins coming into the country, not going out. To balance things out, arbitrage/fiat exchange is needed, with all the old cost we are trying to avoid here.
That's not necessarily the only option. To balance the currency flow all you need are people in the Philippines who want to buy BTC with local currency in order to import foreign good. Electronics, perhaps, from Bitcoinstore.