This is the essence of financial inclusion. So alongside these commitments, the BSP will continue to pursue liberalization reforms in the foreign exchange market to foster a more enabling environment for economic activities.
Recent developments In late-September, following the Lehman’s bankruptcy and when the global interbank markets froze and funding was unavailable even at the shortest maturities, the Central Bank  BIS Review 7/2009  3  formed the view that the risks to financial stability were becoming unacceptably high with knock-on effects for the wider economy.