BSP Participates in the 2023 IMF–WB Group annual meetings in Morocco

The Bangko Sentral ng Pilipinas (BSP) delegation led by Deputy Governor Francisco G. Dakila, Jr. as Temporary Governor for the Philippines in the International Monetary Fund (IMF) and Monetary Board Member (MBM) V. Bruce J. Tolentino as Temporary Alternate Governor, attended the 2023 IMF and World Bank Group (WBG) Annual Meetings in Marrakech, Morocco from 09-15 October 2023.^[1]

This year’s Global Policy Agenda centered on the theme, “Building Shared Prosperity and Collective Resilience.”

In line with the theme, IMF Managing Director Kristalina Georgieva underscored the need for the international community to safeguard macroeconomic stability, rebuild buffers, and bolster international cooperation to strengthen the global financial safety net and debt architecture.

The BSP delegation participated in various meetings held at the sidelines of the IMF-WBG Annual Meeting such as the Annual Roundtable of Association of Southeast Asian Nations Finance Ministers and Central Bank Governors and the IMF Managing Director, Annual Meetings Plenary, International Monetary and Financial Committee, Asia and Pacific Department (APD) High-Level Meeting on regional economic outlook, bilateral meetings with the IMF APD and Institute for Capacity Development, investor conference and meetings with credit ratings agencies.

The meetings discussed updates on global and regional economic and financial developments; global outlook and policy agenda; emerging market risks and policy priorities; and challenges in managing inflation amid global economic uncertainty.

Meanwhile, MBM Tolentino served as Chair of the 54^th Joint Governors’ Meeting of the WBG-IMF Southeast Asia Voting Group which provided a good platform for Governors of the IMF and WBG to exchange views on the work of both institutions and sharing of country experiences.

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^[1] Also part of the BSP delegation during the series of meetings were Director Mari-Len R. Macasaquit (International Relations and Surveillance Department), Deputy Director Maria Rica M. Amador (Investor Relations Group or IRG), Ms. Ma. Aizl Camille C. Santillan (Department of Economic Research) and Mr. Justin Joshua S. Parco (IRG).