•  The sound and stable condition of Philippine banks and robust external sector dynamics have also been among the anchors of the robust performance of the domestic economy.
In addition, the domestic economy has sufficient buffers that help weather the external headwinds: •  The BSP’s foreign exchange (FX) reserves currently stands at $ billion as of end-July 2016, more than enough to meet the country’s FX liquidity requirements for trade and short-term debt obligations.