The new measures will be introduced over a transition period of 8 years, and have been calibrated with the aim of avoiding severe implications for the national banking system, while supporting economic recovery2. III.2  “Too large” and non-transparent financial sectors?
The outlook for this year remains positive, although at a slower pace of growth. Nevertheless, this is not bad at all considering that the Philippines is one of the few Asian countries seen to grow and ride out this severe global economic recession. BIS Review 59/2009  1  Our inflation rate continues to decelerate.