Bangko Sentral ng Pilipinas

The Economy

Financial crimes on the rise in the Philippines

Fraudulent financial transactions, including those involving credit card usage increased in 2020 in light of the COVID-19 pandemic, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. In a virtual…

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Arts & Culture

BSP issues Lapulapu Commemorative banknote and medal

The Bangko Sentral ng Pilipinas (BSP), in cooperation with the National Quincentennial Committee (NQC), launched today the 5000-Piso Lapulapu Commemorative Banknote and Medal to kickoff the 99-day countdown to the 500th anniversary of…

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Real Estate

BSP, BCDA sign contract of lease for new BSP complex at New Clark City

The Bangko Sentral ng Pilipinas (BSP) and the Bases Conversion and Development Authority (BCDA) signed Wednesday, Jan. 13, a contract for lease of a parcel of land at the New…

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The Economy

Bank lending growth eases anew in November

Preliminary data show that growth of outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with the BSP, declined to 0.3 percent in November from 1.8…

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The Economy

Philippines ranks 2nd in Asia and 8th Worldwide in promoting financial inclusion

The Philippines remains among the global leaders in financial inclusion, according to the Global Microscope 2020 of the Economist Intelligence Unit (EIU), the research arm of The Economist Group. The…

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The Economy

Personal remittances grow by 2.5% in October 2020

Personal remittances from Overseas Filipinos (OFs) grew by 2.5% year-on-year to US$3.044 billion in October 2020 from US$2.969 billion in October 2019. The growth was attributed to the increase in…

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The Economy

Philippine economy projected to fully recover by 2022

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on November 5 that the normalization growth of the Philippine economy may be expected by 2022. During a virtual briefing, Governor…

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The Economy

Philippine peso among Asia’s strongest currencies despite pandemic-induced global economic downturn

In a news release issued on Tuesday, September 1, Department of Finance Secretary Carlos Dominguez III said the Philippine peso has emerged as among Asia’s strongest currencies even amid a…

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The Economy

Bangko Sentral ng Pilipina releases more inclusive, secure banknotes

The Bangko Sentral ng Pilipinas (BSP) has launched enhanced Philippine banknotes that are more responsive to the needs of the elderly and the visually impaired, and feature the latest anti-counterfeiting…

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Convenience of e-payments skyrockets in the Philippines, major behavioral shift seen in the country

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno continues to be optimistic about the further expansion of electronic payments in the Philippines especially after consumers experienced the vast benefits during…

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The Economy

Philippine economy projected to rebound by 4% in 2021, down 0.4% for 2020

The Philippine economy is projected to weaken by 0.4% this year in part to the presumptive 5% contraction in remittances due to the ongoing COVID-19 global pandemic. However, the economy…

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The Economy

Record-high unemployment rate in the Philippines exaggerated, not reflective of actual picture of economy

The Philippines’ 17.7% record-high unemployment rate last April does not reflect the actual picture of the economy and the jobs market due to the impact of the global pandemic said…

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The Economy

Outlook of remittance to the Philippines remains optimistic for remainder of year, recent decline seen as temporary

Despite the repatriation of overseas Filipino workers (OFWs) due to the ongoing onslaught of the COVID-19 global pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno remained optimistic on the…

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The Economy

With overseas Filipinos losing jobs abroad, growth in remittance downgraded to 2% for the Philippines

For the Philippines, remittances are among the significant growth drivers of the economy—accounting for roughly 9% of annual domestic output. However, remittance from overseas Filipino workers (OFWs) this year has…

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The Economy

The financial strength of the Philippines among the highest in the world—says report from The Economist

A report from The Economist ranks the Philippines 6th out of 66 select emerging world economies with the highest level of financial strength. As recently remarked by Bangko Sentral ng…

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The Economy

Foreign currency reserves of $89B in March reach all-time high for the Philippines

On Thursday, April 30, the Bangko Sentral ng Pilipinas (BSP) reported that the country, as of March 2020, has reached the highest foreign currency reserves—amounting to USD$88.995 billion, an increase…

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Digital payments encouraged, sees significantly increase in volume during ECQ

As a result of the ongoing enhanced community quarantine (ECQ) in many parts of the Philippines, digital payment platforms have shown a significant rise in consumer usage. Data from the…

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Japanese debt watcher Rating and Investment Information raises the Philippines’ credit rating to ‘BBB+’

Upgrade pushes country closer to goal of ‘A’ rating Manila – Japan-based Rating and Investment Information Inc. (R&I) has upgraded the Philippines’ credit rating by a notch, from “BBB” to…

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Entrepreneur

More opportunities for Philippine Exports in 2020

Philippine exporters are seen to gain more opportunities in 2020 on the back of strong support and commitment from both the government and the private sectors. This as the latest…

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Governor of Bangko Sentral ng Pilipinas spotlights the Philippine economy’s resilience in Forum in Washington, DC

Washington, DC — “The Philippines has come a long way, but it is now recognized globally as among the fastest growing and most resilient economies in the world. Its prospects…

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Financial crimes on the rise in the Philippines

BSP issues Lapulapu Commemorative banknote and medal

BSP, BCDA sign contract of lease for new BSP complex at New Clark City

Bank lending growth eases anew in November

Philippines ranks 2nd in Asia and 8th Worldwide in promoting financial inclusion

Personal remittances grow by 2.5% in October 2020

Philippine economy projected to fully recover by 2022

Philippine peso among Asia’s strongest currencies despite pandemic-induced global economic downturn

Bangko Sentral ng Pilipina releases more inclusive, secure banknotes

Convenience of e-payments skyrockets in the Philippines, major behavioral shift seen in the country

Philippine economy projected to rebound by 4% in 2021, down 0.4% for 2020

Record-high unemployment rate in the Philippines exaggerated, not reflective of actual picture of economy

Outlook of remittance to the Philippines remains optimistic for remainder of year, recent decline seen as temporary

With overseas Filipinos losing jobs abroad, growth in remittance downgraded to 2% for the Philippines

The financial strength of the Philippines among the highest in the world—says report from The Economist

Foreign currency reserves of $89B in March reach all-time high for the Philippines

Digital payments encouraged, sees significantly increase in volume during ECQ

Japanese debt watcher Rating and Investment Information raises the Philippines’ credit rating to ‘BBB+’

More opportunities for Philippine Exports in 2020

Governor of Bangko Sentral ng Pilipinas spotlights the Philippine economy’s resilience in Forum in Washington, DC

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