Essential reforms going forward So where do we stand? In terms of monetary policy, price stability is assured, and the overall economic outlook still warrants an accommodative stance. We see some signs of stabilisation in sentiment, even though uncertainties remain. And we expect that monetary stimulus and improvements in financial markets will support a recovery later in the year.
BSP appreciates the time and effort this committee has poured into the FIST Bills in order to facilitate the timely enactment of this economic recovery intervention. BSP recognizes the objectives of FIST Bill to help financial institutions (“FIs”) in their bad debt resolution and non-performing assets (“NPA”) management in response to the adverse impact of the COVID-19 pandemic on their financial operations.