Extensive use of technology has also lead to significantly increased infrastructure sharing and interdependence. Moreover, since financial markets are in a state of high integration, problems in one segment like payment and settlements can lead to severe impact in several other areas, particularly if some problems occur at some significant market participant/ service provider’s end.
While the pandemic may have set us back on some of our goals, I am confident that we are on our way to regaining our pre-pandemic growth trajectory. There are two things fueling my optimism: First is the continued confidence in the Philippine economy.