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Celebrating continued partnership with the banking community

In Photo: Chairman of the Monetary Board and Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. (third from left) leads the toast during the BSP’s Annual Reception for the banking community. Joining him are Monetary Board Members Finance Secretary Carlos G. Dominguez III (from left), Dr. Felipe M. Medalla, Peter B. Favila, Dr. Antonio S. Abacan Jr. and Atty. Juan D. de Zuñiga Jr.

In his keynote address, Espenilla cited the phrase, “Continuity Plus Plus,” which underpins the BSP’s strategic direction under his leadership. Continuity Plus Plus first appreciates that there is an already strong foundation to support a fast-growing economy and the opportunities it presents.

Stability demands continued dedication maintaining and strengthening this macroeconomic foundation.

Expressed in the catch-phrase is also the need for additional strategic financial-sector reforms.  Among other things, the BSP governor spoke about leveraging on digital innovations to foster greater financial inclusion, digitization of the retail payment system to make it truly interoperable, deepening capital markets as an alternative source of funds and a wave of FX reforms to achieve ease of business and efficiency.

 

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