Page 101 - Bsp News Today

He proposed establishment of a sovereign wealth fund could help attract foreign direct investments into the Philippines, Bangko Sentral ng Pilipinas Governor Felipe Medalla said.

Dollars sent home by Filipinos abroad continued to rise, hitting a three-month high in October ahead of the Christmas and New Year holidays, according to the Bangko Sentral ng Pilipinas.

We may yet see the day when we will need sufficient reserves in the BSP and regret tying up or losing what we had in this Maharlika Wealth Fund. It could be soon, given the volatility of the international economic and financial environment.

As widely expected, the Bangko Sentral ng Pilipinas delivered a softer 50-basis-point hike at the last rate-setting meeting of the Monetary Board for the year, as inflation is seen accelerating further and peaking this month.

Unfortunately, there is a large constituency impressed by government intervention in price-setting.

The Bangko Sentral ng Pilipinas is finalizing a policy framework for basic merchant accounts to accelerate the digital onboarding of micro, small, and medium enterprises.

Much has already been written about government’s intention to establish a sovereign wealth fund. 

 The country’s external debt continued to swell in end-September amid higher borrowings, both by the national government and the private sector, from offshore creditors, the Bangko Sentral ng Pilipinas said.

The Bangko Sentral ng Pilipinas has raised the bar for consumer protection in the aftermath of the collapse of cryptocurrency giant FTX that led to requests for withdrawals with an estimated $6 billion over three days.

The amount borrowed by local government units from domestic creditors plunged by 63.7 percent to P20.2 billion in the first half of the year from P55.7 billion in the second half of last year, according to the Bangko Sentral ng Pilipinas.