This is why central bank money succeeds where previous forms of fiat money issued by unaccountable sovereigns have failed. Our money is issued in the public interest. We should never take such legitimacy for granted.
The Philippines continues to work toward demonstrating positive and tangible progress, and we further appeal that you look upon the country’s efforts with fairness, considering the many constraints and hazards posed by the ongoing health crisis. Thank you, and we look forward to a productive and enlightening dialogue ahead.​