A word about the banking landscape and the global economy may be in order. We can crow as much as we want that our banks and our economy have been spared the worst effects of the prolonged crisis which has ravaged the banks and the economies of the developed world.
Understanding the importance of a deeper and more active capital market, to complement bank lending and serve as an alternative source of industry financing and to manage risks, we made a bold commitment, and unveiled the Philippine roadmap for developing the local debt market.