2/4  BIS central bankers' speeches  In fact, the BSP has injected a total of P1.5 trillion to the financial system, equivalent to about 7.6 percent of gross domestic product (GDP), as part of its liquidity-easing measures to address the impact of COVID-19 pandemic.
Understanding the barriers to financial inclusion is particularly important to ensuring that our financial system works for everyone. For this reason, I am pleased that the Federal Reserve recently joined the Central Bank Network for Indigenous Inclusion, an international network of central banks committed to engaging with Indigenous peoples and understanding and addressing their unique economic and financial challenges.