BSP joins IMF conference on pandemic's financial risks

The Bangko Sentral ng Pilipinas (BSP) participated in a conference hosted by the International Monetary Fund’s Asia-Pacific Department to discuss financial stability risks posed by the coronavirus pandemic.

Assistant Governor Johnny Noe E. Ravalo noted that the pandemic-induced recession has made private corporations vulnerable and highlighted the need for creative interventions from authorities.

The BSP is coordinating with foreign central banks to protect the Philippines from potential financial instability due to a prolonged COVID-19 pandemic.