While vulnerabilities differ from country to country, the emerging markets in general appear to be more resilient in the face of the recent market volatility. Their macroeconomic fundamentals and policies have improved, making them better-placed to weather the storm than was the case five years ago. Thank you. Page 11 of 11
It promotes transparency through announcement of targets and the reporting of measures that the BSP will adopt to attain these targets, as well as the reasons for and outcomes of its policy decisions, increasing accountability on the part of the BSP.