BSP outlines policy support to sustain economic recovery

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (top left) shared during a forum organized by India’s Ministry of External Affairs and Pune International Centre the various liquidity-easing measures by the central bank that have totaled 11.1 percent of GDP as part of an effort to sustain the economy through the crisis and restore financial market functioning.

BSP’s liquidity support resulted in more affordable borrowing costs, encouraged bank lending, and expanded access to credit for households and firms.

Joining Governor Diokno in the forum are (clockwise) Reserve Bank of India Deputy Governor Michael Patra, Central Bank of Sri Lanka Governor Ajith Nivard Cabraal, and Ajit Ranade of the Centre for Social and Economic Progress.