Felipe M Medalla: Opening message for Moody's Credit Rating Review Opening message by Mr Felipe M Medalla, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), for Moody's Credit Rating Review, Manila, 21 August 2022. *** Dr. Diokno already described the economy. What I will now explain is why we have raised policy rates by 175 bps.
Curaçao has a longer tradition in this area because the former central government was concentrated in Willemstad, but it is still struggling to merge the central and island administrations. Moreover, the distance between politicians, civil servants, and citizens is much smaller than in the Netherlands. These differences imply that the strength of governance can never meet the standards common in the Netherlands.