I thank Mr Abdoul Aziz Wane, the Director of AFRITAC South and the Africa Training Institute, and Mr Ravi Mohan, Resident Advisor, for inviting me to address you this morning. The AFRITAC South (AFS) has been instrumental in promoting capacity building in this side of the continent.
In support of major policy objectives of enhancing credit access and expediting the clean-up of bad assets from the system, the BSP likewise advanced lower credit risk weightings for high grade corporate debt exposures and micro and SME exposures, but also increased the risk weighting on non-performing loans. This year, the BSP has issued the much-awaited Basel II implementing guidelines for the Philippines.