On the financial sector, the BSP will strengthen the framework for risk governance and align supervisory policies with international standards to enhance banking reform agenda and foster greater financial stability.
On the external sector, the BSP will remain supportive of policies that moderate the impact of external shocks such as maintaining a market-determined exchange rate, maintaining ample foreign exchange reserves, and keeping the country’s outstanding external debt manageable. Besides its core mandate, Madam Chair, the BSP has pursued and will continue to pursue financial inclusion as a strategic objective. 1.