It required several painstaking interactions. A literature review indicated that most policy measures in this regard related to the development of financial markets, financial sector deepening, regulation of financial institutions and payment, clearing and settlement systems and, to some extent, the provision of microcredit. There were some examples of policy actions that addressed the issue of exclusion from facilities available through banking system.
Another concern is how domestic liquidity conditions could be affected by the US Fed’s decision to raise interest rates, by the weakening Chinese growth prospects and by the heightened volatility in their financial markets. Nevertheless, we have reasons to believe that the overall impact on our economy would be manageable due in large part to the “pull factor” of the Philippines’ strong macroeconomic fundamentals.