Amid expectations of slower growth this year, the Bangko Sentral ng Pilipinas (BSP) has committed to sustain its short-term financing arrangement with the national government and assist in economic recovery, Governor Benjamin Diokno said on Friday.
At the Washington-based Institute of International Finance’s (IIF) 2021 Asia-Pacific Summit, Diokno said the BSP had already released P2 trillion, or about 12 percent of the gross domestic product (GDP), into the financial system in support of the economy amid the prolonged pandemic-induced recession.
Besides the liquidity support, the BSP has been extending a zero-interest, short-term loan through its repurchase agreement with the Burea…
Keep on reading: BSP promises to maintain credit line to cash-strapped gov’t