The country’s external debt service burden as of April totaled $4.64 billion, 19.79 percent lower compared to the same time last year of $5.785 billion, with fewer prepayments from the public and private sectors. The debt service burden, which represents both principal and interest payments after...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said Saturday, July 20, that the passage of Republic Act No. 12010 or the Anti-Financial Account Scamming Act (AFASA) will give the central bank more teeth in protecting financial consumers. AFASA is a law that will curb and combat...
The Philippines posted a lower balance of payments (BOP) surplus of $1.441 billion as of end-June amid a narrowing trade deficit and net inflows registered by the central bank. Based on the latest data from the Bangko Sentral ng Pilipinas (BSP) released Friday, July 19, the first semester BOP tally...
By MYRNA M. VELASCO The Department of Energy (DOE) has engaged the help of the Bangko Sentral ng Pilipinas (BSP) so they can guide banks and other financing entities on how to navigate the intricate web of capital formation that shall underpin the massive-scale pipeline of renewable energy (RE)...
By LEE C. CHIPONGIAN The Bangko Sentral ng Pilipinas (BSP) has approved five applications to open regular bank branches and 23 branch-lite units (BLUs) in the first quarter, based on BSP data. The approved regular branches were lower compared to the first quarter 2023 of three and also...
The Bangko Sentral ng Pilipinas (BSP) has urged the public to be more vigilant against scams involving the use of artificial intelligence (AI) to create or manipulate fake videos and audio. In a statement on Friday, July 12, the BSP said that these AI-manipulated contents are being used to...
President Marcos has appointed top banker Walter Wassmer to join the Banko Sentral ng Pilipinas (BSP) Monetary Board, the Presidential Communications Office (PCO) announced on Thursday, July 11. Walter Wassmer (file photo) Before joining the public sector, Wassmer was a consultant and non-executive...
The total assets of the domestic banking system went up by 12.43 percent to P25.622 trillion as of end-May from P22.788 trillion same period in 2023, based on Bangko Sentral ng Pilipinas' (BSP) latest data. Banking assets are boosted by deposits, loans and investments. Total assets refer to...
By Lee C. Chipongian The Bangko Sentral ng Pilipinas (BSP) received and processed 43,115 new consumer complaints in 2023, almost double the 22,142 in 2022, as the central bank improved its capacity to act on more financial consumer issues after streamlining consumer redress measures and market...
The Bangko Sentral ng Pilipinas (BSP) said the decrease in the tariff on rice imports would help mitigate supply-related inflationary forces and sustain the disinflation trajectory. In a statement on Friday, July 5, the BSP said it supports President Marcos’ executive order (EO) no. 62, lowering...
The Bangko Sentral ng Pilipinas (BSP) has raised a red flag on the proliferation of scams involving individuals and groups falsely claiming to be associated with the central bank. In a statement, the BSP said these fraudulent entities have been observed leveraging central bank officers’ names,...
Foreign direct investments (FDI), characterized by long-term commitments and the creation of job opportunities for Filipinos, are projected to reach $9.5 billion this year. Based on the latest projections by the Bangko Sentral ng Pilipinas (BSP), the initial forecast of $9 billion for the...
