BSP joins AFMGM and related meetings

Governor Benjamin E. Diokno represented the Bangko Sentral ng Pilipinas (BSP) at the 7^th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting and Related Meetings, including the ASEAN Central Bank Governors’ Meeting, Dialogue with Financial Institutions CEOs, and Special Session with International Financial Institutions, held via videoconference on 29-30 March 2021.

With the 2021 ASEAN Chairmanship theme, “We Care, We Prepare, We Prosper”, the Finance Ministers and Central Bank Governors exchanged views on the global and regional outlook as well as opportunities and policy challenges for the ASEAN region under the current economic environment.

This year’s meetings focused on financial integration initiatives, digitalization, and sustainability, which the ASEAN Member States consider to be vital in the ASEAN recovery process and long-term regional resilience.

Governor Diokno, for his part, shared the Philippines’ gains and efforts in digitalization and sustainability amid the current circumstances. He further emphasized the role of digitalization in financial inclusion and our recovery. Particularly “Technological innovations, if channeled the right way, can curtail financial inclusion barriers and can be favorable to our economic recovery,” Governor Diokno explained.