Medalla cites factors on PH resiliency vs. systemic risks

Continued expansion of the domestic economy, sustained good fiscal policy, and an inflation-targeting central bank will help ensure the Philippines’ resiliency against systemic risks.

Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla made the remarks during the closing event of the International Conference on Financial Stability hosted by the BSP and the International Monetary Fund (IMF) here on Tuesday.

He said measures to improve the strength of the country’s buffers against different economic challenges will also need cooperation from the pri- vate sector.

He explained that the domestic economy is able to recover fast from the recent pandemic due in part to the reduction of the central bank’s key policy rates, which was targeted to encourage more borrowings and ensure that economic activities remain up despite the pandemic.