These measures include: 1) reduction in the monetary policy rate by 125- basis points since the start of the year; 2) reduction in the reserve requirement ratio by 200 basis points; 3) purchases of Government Securities (GS) in the secondary market; 4) reduction in the overnight reserve repurchase (RRP) volume offering; 5) engaging in repurchase agreement with the National Government amounting to P300 billion; and 6) approval of a package of measures to further reduce the financial burden on loans to micro, 2/3  BIS central bankers' speeches  small and medium enterprises (MSME), which would help hasten the sector’s recovery.
The crisis can also be seen as a balance of payments crisis of the affected countries, brought about by excessive public and private debt, combined with a lack of competitiveness.