MANILA, Philippines—The Philippine economy is well positioned for a sharp rebound after the coronavirus pandemic, thanks to structural reforms implemented after previous crises, especially those in the banking system, according to the country’s chief financial regulator.
Philippine banks are strong enough to weather the downturn brought about by the COVID-19 crisis due to their sufficient equity and conservative balance sheets that make them resistant to soured assets.
“The regulatory reforms over the past 20 years have made the Philippine banking system resilient to shocks,” Bangko Sentral ng Pilipinas Governor Benjamin Diokno said at an online speech during …
Keep on reading: PH banks strong, ready to fund economic recovery, Diokno says