BSP-IMF successfully hold financial stability conference in Cebu

In the photo are participants of the conference from the BSP led by BSP Governor Felipe M. Medalla (1st R, 7th from L), Monetary Board Member (MBM) Peter V. Favila (1st R, 5th from L), MBM Antonio S. Abacan, Jr (1st R, 4th from R), MBM V. Bruce Tolentino (1st R, 3rd from L), MBM Anita Linda R. Aquino (1st R, 3rd from L), MBM Eli M. Remolona, Jr. (1st R, 2nd from L), Deputy Governor (DG) Chuchi G. Fonacier (3rd R, leftmost), DG Francisco G. Dakila, Jr. (3rd R, 3rd from R);  Senior Assistant Governor (SAG) Maria Ramona Gertrudes T. Santiago (2rd R, 7th from L), SAG Dr. Johnny Noe E. Ravalo (1st R, leftmost), SAG Edna C. Villa (2nd R, 2nd from R); Managing Director Antonio Joselito G. Lambino II (2nd R, rightmost); the IMF led by Deputy Director Dr. Thomas Helbling (1st R, 6th from L); the Financial Stability Board (FSB) led by FSB Chairman and De Nederlandsche Bank President Klaas Knot (2nd R, 4th from L), ASEAN central banks, public and private sectors, media, and multilateral organizations including the Bank for International Settlements, Asian Development Bank, ASEAN+3 Macroeconomic Research Office, and Southeast Asian Central Banks Research and Training Center.

The Bangko Sentral ng Pilipinas (BSP) and the International Monetary Fund (IMF) garnered another milestone after the successful regional dialogue on Financial Stability in Mactan, Cebu on 15-16 May 2023.

With the theme, “The New Frontier of Financial Stability: Global Problems, Global Solutions, Local Challenges,” the conference brought together 14 central banks and financial authorities from the region, six international organizations, as well as 31 institutions representing the private sector, market players and experts.

One of the highlights of the conference is the focus on Asia as a collective body in addressing systemic risk issues affecting the global economy.  Although much work needs to be done, the conference moved the needle towards building resilience through creating bridges and molding behaviors across stakeholders.