In short, if the hypothesis of “negligence” is well founded, it applies to both sides of the credit market. This vicious circle, in which ultimately everyone loses and nobody gains, must be broken. It is a life-or-death question for the many Italian SMEs that, while severely strained by recession, still retain their markets, innovative capacity and technological assets, and have the potential to recover.
While the EFLP is comprehensive, we know that the Bangko Sentral alone cannot promote financial literacy to the whole Philippine population. In this advocacy, we hope that the market players such as yourselves, can do their share, or even partner with us to make the average Filipino citizen a well-informed financial decision-maker.