The Bangko Sentral ng Pilipinas (BSP) has authorized the government to borrow $3.54 billion from foreign creditors in the second quarter of this year. The new approved public sector foreign borrowing is 26 percent higher than the $2.80 billion borrowing in the second quarter last year. But it is 26...
The private sector is cool to the proposal for the immediate lifting of bank secrecy law in the country, but also equally stressed the need to protect depositors. George Barcelon, president of the Philippine Chamber of Commerce and Industry (PCCI), emphasized his point in reaction to Sen....
President Marcos’ chief economic manager said the Philippine economy would continue its robust expansion pace this year despite a rising interest rate environment. Finance Secretary Benjamin E. Diokno said on Thursday, July 14, that the economy, as measured by the gross domestic product (GDP),...
The Bangko Sentral ng Pilipinas (BSP) only needs to be clear and more energetic in their information campaign regarding the new polymer bills. Senator Joel Villanueva (Senate of the Philippines) Incoming Senate Majority Leader Joel Villanueva issued this statement following criticisms against the...
Senator Aquilino “Koko” Pimentel III has asked the Bangko Sentral ng Pilipinas (BSP) to stop the issuance and the production of the P1,000 polymer banknotes amid mounting complaints about its practical use as a legal tender. In a related development, Pimentel also filed a resolution urging the...
The Bangko Sentral ng Pilipinas (BSP) has launched a dedicated webpage or microsite for the new ₱1,000 polymer banknotes to increase public awareness and encourage its use, hastening the country’s shift to the use of more secure and hygienic banknotes. The website, bit.ly/PolymerPH, informs the...
President-elect Ferdinand “Bongbong” Marcos Jr. has tapped economist Felipe Medalla to serve as governor of the Bangko Sentral ng Pilipinas (BSP). Dr. Felipe Medalla (Photo from DLSU website) Read more here:...
The Department of Finance (DOF) said that Binance, the largest cryptocurrency exchange in the world, is not registered with the Philippines’ securities and banking regulators. Finance Secretary Carlos G. Dominguez III said on Thursday, June 9, said Binance is not registered with the Securities...
The Marcos administration has no plan to reduce government spending to temper the nation’s ballooning debt load, the incoming chief of the Department of Finance (DOF) said on Monday, June 6. Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, who is President-elect Ferdinand R. Marcos...
The Bangko Sentral ng Pilipinas’ recent decision to maintain the two percent cap or 24 percent per year ceiling on credit card interest rates and charges is beneficial to cardholders who are still coping with the harsh economic impact of the past two years’ battle with the coronavirus pandemic....
One notable law signed by President Rodrigo R. Duterte early this month is Republic Act No. 11765, otherwise known as the Financial Products and Services Consumer Protection Act (FCPA), which gave three financial regulators the power to speed up addressing consumers’ complaints against financial...
Pilot and wildlife photographer Floyd Pison Bermejo weighs in on the P1,000 bill's new look The Philippines has a myriad of symbols that embody the culture, heritage, and spirit of the Filipino people. Among the official ones, nothing is quite remarkable as the Philippine eagle. In 1995, the...
