BSP continues to forge strong regional ties

The Bangko Sentral ng Pilipinas (BSP) stressed the importance of forging strong regional partnerships during the Maybank Investment ASEAN PH Conference held today.

“Our regional cooperation continues to thrive with ongoing and new initiatives which will cement the groundwork for future aspirations,” said BSP Governor Benjamin E. Diokno.

The Governor shared that the BSP discussed sustainable finance, payment connectivity, and trade facilitation during the recent ASEAN and ASEAN+3 meetings.

The BSP also actively participated in negotiations intended to enhance regional and bilateral safety nets, such as the Chiang Mai Initiative Multilateralization and the Bilateral Swap Arrangement with Japan.

“We also engaged with other central banks and financial service authorities in and out of the region to further strengthen bilateral ties through knowledge sharing and information exchange,” the Governor added.

The BSP has various agreements in force with its counterparts in Indonesia, Mauritius, and Singapore in the areas of payments, banking, and sustainable finance.