It is pertinent to note here that the discharge of these domestic debt management responsibilities by the CBN could be, and often had been, in conflict with monetary policy objectives. The establishment of the Debt Management Office should therefore be seen as a positive development that will enhance the efficiency of not only domestic debt management but also the effectiveness of monetary policy.
Benjamin E Diokno: Supporting the digitalization of microfinance institutions Speech by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the 29th APPEND (Alliance of Philippine Partners for Enterprise Development) Leadership Conference, 10 November 2021.