Answer the following questions:

1. What are your take-aways from the webinar?

The Chairman of the Monetary Board and Governor of the Bangko Sentral ng Pilipinas
(BSP) Benjamin E. Diokno has delivered the Ulat ng BSP sa Bayan last Friday, 19 February, via
Facebook live. The program also includes the launch of two publications, BSP Unbound: Central
Banking and the COVID-19 Pandemic and No One Left Behind: The Philippine Financial Inclusion
Journey. In this webinar, Governor Diokno give an outlook on the Philippine economy and
updates on BSP efforts to have a more streamlined, technology-driven and inclusive financial
ecosystem.

Bringing BSP closer to the Filipino people. The Bangko Sentral ng Pilipinas is no stranger
to crisis. We have endured global distractions in the past and have been forged stronger by
them. But the Covid-19 pandemic has distracted our usual way of life. It was and still is an
extraordinary challenge with quiring extraordinary measurements. And this is what the BSP has
done, with optimism and decisive action. The Bangko Sentral ng Pilipinas (BSP) provides a
glimpse into its enduring financial inclusion story through the release of its publication, “No
One Left Behind: The Philippine Financial Inclusion Journey.” The book gives an overview of
how the BSP has adapted and paved the way for landmark policies and initiatives to address
some blind spots in notions of growth and progress.

2. What topic are you most interested?

Financial systems play a critical role for consumers, both corporates and individuals
because they bridge the aspirations of today with the economic fortunes of tomorrow. One of
the two major crises in recent memory, the Global Financial Crisis has changed the complexion
of central banking. It was during these times that we witnessed experiments of advanced
economies with extraordinary monetary policy measures, whose vestiges remain at the onset
of the COVID-19 pandemic. Clearly, disruptions present important lessons in crisis planning and
underline the need for prudence and disciplined policy making. The pace of financial market
reforms was hastened in the aftermath of the crises. Foreign exchange reserves were also built
up as protection against external downdrafts.

3. In your opinion, how can BSP make an impact to the economic development of our
country?

It is the main responsibility of the Bangko Sentral ng Pilipinas to implement policy in

the areas of money, banking and credit with the primary objective of preserving price
stability. The BSP is primarily mandated to maintain price stability conductive to a balanced
and sustainable growth of the economy. By keeping price stable, the  BSP helps ensure strong
and sustainable economic growth and better living standards.