The Philippine boat may not be the large vessel of other jurisdictions but the fact that we have been able to steer through the turbulent and uncertain waters of the last decade is itself the testament of our resolve and our strength as a market.
In part, we have been able to steer the economy through these disturbances because over the years we have built the foundations of a strong macroeconomy. In 2002, we adopted a rigorous framework for monetary policy formulation – inflation targetting.