The Philippines Has The World's Best Central Bankers
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- Опубліковано 29 сер 2024
- The central bankers of the Philippines have consistently distinguished themselves through their monetary operations, whether by combatting inflation or safeguarding their independence.
Narrated by Tom McKay
Video Edited by iyanbriandi
Inquiries: behindasian@gmail.com
Brought to you by the Behind Asian Team.
The central bank of the Philippines has a rich and complex history, marked by both notable achievements and challenges. What factors do you believe have contributed to its recent exceptional performance under the leadership of several governors? Let us know down below!
BSP also stole the Marcos gold worth Billions of dollars
Puro sila BEST! Ang taas ang interest rate ng Financian institutions sa Pinas!
Of course mataas inflation boba ka ba
@erwindaveg1 Check other countries, too.
Bangkarote
Underappreciated people, they probably saved Philippine economy many times
facts, and the credits often go to politicians 🤦🏽♂️
@@nextdev8269
Yeah its just sad
Mas malaki pa sahod nila kesa sa politicians, and also yung mga bonus nila , LOW-KEY lang yan
@@nicolemaneja4403 Deserve naman nila yon dahil kung hindi dahil sa kanila baka tulad na tayo sa bansang vietnam na pagkataas taas ng inflation yung 1million sa kanila nasa 2k lang satin... kesa naman sa mga politicians na walang kasiguraduhan kung corrupt ba o hindi.
OFW & remittance is the backbone of the Philippines economy
As a local, I am ignorant of most of the financial system and governance in the Philippines; however a lawyer friend of mine first made me aware of how notable the BSP's initiatives and governance in comparison to others, particularly how well we weathered the global financial crisis back in 2008. Something to be proud of.
People like Diokno helps maintain our country Robust (Not Fragile nor Anti-Fragile)
Meaning Slow and Steady growth
Manageable Lows
Super under appreciated dito sa pinas, but fortunately from time to time Channel like this highlights them
not just how well we weathered the 2008 Lehman Brothers Global Financial Crisis, but also the 1997 Asian Financial Crisis, and as you're probably aware--- the Covid Pandemic Global Economic Crisis. Our economy is built like a battle hardened Dreadnought Battleship and yet the majority of the philippine people are ignorant of it and take it for granted.
*we weathered the global financial crisis back in 2008*
thanks to ex president GMA too. Her controversial economic reforms are the reason why we were not that affected by the 2008 financial crisis
Great Filipinos
Yup, as one who works in the Philippine financial sector, BSP is the cleanest agency of the Philippine government.
Because we don't have banksters. Most banks in ph are family owned and controlled thus they have a long term interest compared to american ones. In US banksters put their own people in fed.
@@dionium5462 For once an institution run by elite families is actually doing good for the nation instead of running it into the ground....if only the rest of the government and their political families were like that lol
Cleanest because the Janitors are seriousbto their task but the one who manages the The 115 millions Pilipinos Investment Funds to all central banks, to allcommecial banks, to all Government Owned and Controlled Banks all over the world including the Time Deposits in 13 Banks which tge Trustee Depositors WorldBanks and another Time Deposits in13 Banks which the Trustee Depositors iInternwtional Monetary Funds are Supervery corrupt
As someone who works in the financial industry, i can attest to how important the role of BSP plays. Its oversight, policies and measures implemented over the Philippine financial system is pivotal on maintaining financial and market stabililty. As much as our local banks are imperfect as to its services, the BSP is the reason why we dont experience bank collapses in the magnitude as that in the US or economic collapses. As an example, there’s a certain reserve requirement that each banking institution needs to maintain in the BSP at all times to ensure that banks are liquid and solvent in case of bank runs. Noncompliance usually lead to costly penalties, deeper book inspections and audits just to name a few. It is always easy to discredit an institution because we dont completely understand how it operates but credit should be given where it is due. BSP has been doing a great job across administrations; you dont need any further proof other than our economy isnt collapsing but booming.
Central is created and design by the ruling elites to control, suppress and manipulate the people. We can live without a central bank because our ancestors been there already and they survive.
Creating money out of nothing is a crime that only bankters can do but not on a hands of criminal. So why is that? Because that is the design that was created by the ruling elites. They can make illegal into legal in the eyes of every citizen.
That is what I understand on a central bank also. We may have a different understanding but that's how I understand.
The dollar that ofw and bpo earn entering the country is the best answer why the bsp can easily manage the reserve. Imagine the huge trade imbalance that we have and the outflow of dollars because of importation majority policy of the executive. We don’t have enough money to pay for our imports and external debt but because of ofw and bpo , we survive any financial crisis.
@@ayusinnyuand that is still useless if the central bankers do not know how to manage it. The fact that they know how to manage merits credit. To inform you, we are not the top recipient of foreign currency and it means that there are cb that has much more but still the Philippines cb does it best. Don't you get it?
Top 10 countries for receiving the most remittances and money...
India. As the world's largest democracy, India has a fast-growing and diverse economy with a large, skilled workforce.
China. ...
Mexico. ...
The Philippines. ...
Egypt. ...
Pakistan. ...
France. ...
Bangladesh. ...
Not to discredit our ofws and bpo, the mining industry also has helped a lot in terms of our wealth
Amid the rampant corruption in the Philippine government, I have always been wondering how we're still standing when many previously wealthier countries like Lebanon, Venezuela, etc have fallen.... Now I know why
So true.... but still corruption must be eradicated...
@@maharlikabebz2249 we need to bring back death penalty for heinous crime and corruption
@@gracejavellana1070 Fact is, as history stands, the same judges are the ones who are most corrupt.
@@gracejavellana1070bringing back the old "silya elektrika" is definitely going to make corrupt leaders fear for their lives
@@arichan7599 electrika? Hanging would be better and public at that xD
I'm a Filipino and this news to me. Wow, makes me proud of BSP. I have no clue they did all that and got recognized internationally by it. I hope they continue to do what they're doing.
I was always amazed by Diokno's work with BSP with how he handled inflation rate before the war (it was remarkable keeping it at 3-4% Inflation rate while other countries were at 9%) . But fellow Filipinos always say bad things about him in twitter henever he posts not knowing how much value of work he does.
@@rogue2791 Twitter? we all know who're the people on Twitter lol, they don't represent the masses.
wala ako maintindihan. ang alam ko lang 6 years na tokhang speech
@@rogue2791Its because 3 to 4% is not true. BSP can make up and cook its books. The average folks does not make 20K sa bansa. Kaya inflation has been killing them. BSP massive inflation rates was height at 11% down to 9%, until now it's not clear anong tamang inflation rate. But giving the market based it's shows how bad inflation rates sa bansa.
@@codelessunlimited7701 can you expand more on the "Its because 3 to 4% is not true. BSP can make up and cook its books."?
They save the Philippine economy due to their wise decision in finacial and monetary policy, exemplary despite we have plenty of garbage politicians. As a folk worked in money business and banking sector I salute this guys for maintaining utmost independence.
One good thing you need to give credit to politicians tho is in terms of Economy, they let these guys make decisions and help them implement what needed to be done. The role of the President in particular is to implement what these guys suggest. So in a way, since Gloria, our Presidents have been listening to these guys.
My late father was one of BSP's employees. He was a technician and worked there for over 3 decades, only cut short by his untimely death. I am proud of him and of BSP. 😁
rest in peace
This is the reason why Benjamin Diokno has the highest salary among government officials. And I respect him for that. Thanks to all former presidents and even PBBM for keeping Diokno.
No, Dr. Diokno no longer leads the BSP. He now serves as Finance Secretary.
@@maynnemillares he is still part of the monitary board in bsp
@@zoilatamparong8755 But his salary is downgraded, From BSP Gov to Secretary. I respect him for that.
The reason why the Philippines has a stable economy despite the pandemic.
Its a "God's Gift" to Philippines to have very good bankers. A 3rd world world country with one of the best bankers in the world to have, prevent economic collapses many times, I wish these bankers of ours get credit they deserve.
As someone who lived here in the Philippines for so long I've always wondered why the pesos has a better spending power than other Asian countries even those with a first world status and there goes the answer with this video and the BSP doing their job really well despite the Philippines being in a hell hole. I hope more countries copy the Philippine Central Bank with them being a hallmark of how to stabilise the economy and make services accessible to all.
Because of OFW padala kaya "medyo malakas" peso sa asia
@@dormamo6917 not the case everywhere because in Lebanon their currency is going downhill despite the people sending back money abroad
"as someone who lived here" nginang to pede naman istate nalang ung comment bakit kailangan pa malaman na kung saan ka wala naman nagtatanong? nginang to sasasakit niy osa mata proud pinoy pag maganda ung nirereview?
A well-run, corruption-free Philippine institution! Through all the financial crisis we went through whether global or local, they kept oureconomy from collapsing. This is living proof that Filipinos could be great administrators if they set their minds to it.
Well run? Corruption free? Ganda siguro ng mental health mo, ignorance is a bliss talaga.
More like BSP lang ang pag-asa ng pilipinas, other departments and politicians? Nah.
@@ashura44444 ??? go troll somewhere else please.
@@ashura44444 ??? go troll somewhere else please.
@@incognitoone Mas ikaw ang troll, sa ibang bansa ka pa ata nakatira.
It's easy to manage in times of abundance. What's hard is managing, if not excelling, when given limitations and constraints. And considering the Philippines has both the handicaps of geography, climate, and conservative culture that rewards being clever and corrupt more than being empathetic and honest (due to the mismanagement of older generations) - it's a miracle that the BSP is actively preventing the same civil unrest seen in places like Sri Lanka. Salute!
Hope that BSP stays independent of the political pressure the country now faces.
I didn't know that. As a Filipino, this made me smile
Bakit ano ba ang pinag-aralan...mo.
I've always known this. Since Buenaventura's time up to now, the BSP has always had an excellent reputation in the global central banking. I've read several articles about the sterling performance of these awesome gentlemen.
@@felipecostillas3798 Personal yan. >_>
That's normal for Filipinos. We will criticize first the department and the person running the department before we know their big contribution to the country. We will only be proud of them if they are recognized by other foreign countries while explaining how they contribute to our economy. Filipinos love validations from foreign countries before saying "Proud to be Pinoy!"
@@davidarvingumazon5024knowledge is power. Since, he's powerless haha
This video does not take into consideration the fact that the Philippines has an economy unique compared to the rest of the world. Remittances from the Philippine diaspora from every corner of the globe practically funds the entire consumption-driven economy. With diversified income, the country is less prone to economic downturns from one sector affecting the entire country
BSP makes good use of this, thus the resilience of our economy.
Working in an International Financial Company🙌, and I can say that Philippines financial system is way efficient, simpler and better. 😉
I never heard any anomalies about BSP, it is highly respected government agency in PH.
No anomalies? How about the 3500 metric tons of gold conspiracy of seven big name government officials that they transferred to Thailand bank headed by former president Noynoy in the time of BSP governor Titangco.
PCGG chief Arcilla revealed in Philippine tv news.
The Philippine government itself and all government departments and agencies should follow its example to serve all Filipinos in terms of infrastructure, health, improved education system, housing, crime and corruption deterrent system, upgraded military defence, and all. Let's go!!!
Agree. They deserve lots of credit for our current economic trajectory.
very much unlike DPWH
Yup, they’ve managed Philippine finances very good considering where our debt was a few decades ago. One of the brightest spots of the Philippine government.
Funfact: the central bank of the philippines and the bangko sentral ng pilipinas is fundamentally different and not just a translation. It was bankrupted at one point, which led to the dissolution of the CNB and replaced by BSP because "someone" made too many bad loans as well as other unfortunate events which led to its downfall.
Needless to say, BSP's autonomy today is because we do not need a repeat performance of this again.
I wonder who that someone is 🤔🤔
@@xeixi3789Marcos
@@xeixi3789abs-cbn si gabi lopez. Utang nang utang hindi naman binabayaran. Kaya namura yan ni FPRRD. Lucio Tan isa pang tax evader. Other chinese tycoons na tax evaders.
As long as our political leaders are not corrupt to the core safe ang Pinas sa economic collapse.
@jpmpastores DO YOU HAVE PROOFS? Or the change is A FINANCIAL AND ECONOMICAL DECISION NEEDED FOR A BETTER CENTRAL FINANCIAL SYSTEM FOR PHILIPPINES. As Other countries also has done the same with theirs.
en.m.wikipedia.org/wiki/Bangko_Sentral_ng_Pilipinas
🇵🇭🇵🇭
@@ahlembell8843In a Jan. 20, 1992 privilege speech, Romulo, then Senate majority floor leader, called attention to the central bank’s ailing health.
“Since 1981, the Central Bank’s financial position has continued to deteriorate. Indeed, for 1992, Central Bank losses are projected to constitute more than 3/4 of the entire public sector deficit,” the then senator said in his 1992 speech.
“It is no wonder, he said, that in the recent Philippine-International Monetary Fund talks, the financial health of the Central Bank was a key issue, specifically the Central Bank losses in the consolidated public sector deficit.”
What happened?
“According to bank insiders, Imelda Marcos, her kids and kin, charged shopping trips abroad to one of the suspense accounts of the Central Bank - either the Monetary Adjustment Account or the Exchange Stabilization Adjustment Account,” Romulo said in another speech on Feb. 3, 1993.
“How in the world can such a shopping trip be a legitimate charge either to the Monetary Adjustment Account or the Exchange Stabilization Adjustment Account, which under the CB accounting form part of the assets of the Central Bank?” Romulo said.
www.philstar.com/business/2019/09/30/1955972/marcoses-and-old-central-bank/amp/
Thank you for sharing this video! This is the kind of content that deserves to be recognized in all media platforms so that many will be informed. Something that we, Filipinos, should be proud of.
never knew they were that good. imagine if our government wasn't corrupt. i can see philippines turning into a massive economic powerhouse with these 3 👑
The BSP Governors have consistently been the saviors of the Philippine economy in recent decades. More power to them!
BSP is literally the only part of the government I've never heard of any corruption issues nor do I hear that they utilize the "backer" system.
Banks only work due to trust, if people lose trust in them. The banking system fails for example, what's happening in China the people are losing trust into their banks and are withdrawing their assets.
I've always noticed how stable our economy is despite inflation, now I know it's thanks to these great men that build my country, and the lawmakers who built the system
Diokno is the one pushing for Sovereign Wealth Fund and I trust him. He is one of the best in the world.
As a viewer of Bloomberg, when it was announced that Benjamin Diokno was appointed as Secretary of Dept of Finance, the hosts rejoiced. Then I reviewed his interviews of Sec. Diokno when he was in BSP, he gave a really good interviews. The Secretary of DOF before him was also admired by Bloomberg hosts. Filipinos do not realized that these men appointed in the BSP and DOF are the best of the best in their field. The current team and the team before them are composed of the best caliber, not only locally but also internationally.
Lol Diokno 😂😂😂
@@narutoclyde8586 What is funny? If the actual people who have educated themselves and do have extensive years of financial and economic management likes him. Who am I? Also, what is your credential to discredit him?
BBM actually
+100 points for the very charming pronunciation. Love the effort
This one of the hardest government departments to get a job in, and rightfully so.
I hope I can filly understand this. But I feel proud as a Filipino. I hope this will cpntinue and more Filipinos like me will benefit in the future. ❤
The tandem of Carlos Dominguez (Finance secretary during Duterte) and Gov. Benjamin Diokno navigate the boom of Philippine's economy. Best tandem so far.
Ha?
It was Tetangco. Check his awards.
@@LarryfromPH No doubt with Tetangco as Gov. but what I'm referring is the tandem of Central Bank Gov. and Finance Secretary, how they sync even though BSP is separate entity.
Add also Karl Kendrick Chua. It was always the DOF + BSP + NEDA. And despite their synchronous actions, I have always noted and admired how much they maintained and upheld the boundaries of the agencies they are heading. If Karl gets asked on discount rates, he'd just say that it is not in his authority to comment on monetary policy. The same also for the two.
The most effective tandem in crashing the economy by printing money and giving it to Pharmally etc
This is very insightful as a Filipino who already heard this somewhere but still have not grasp the meaning of it. Tbh it’s true. I’m one of the lucky folks who was able to keep my job during pandemic as a BPO employee. It’s our sector which was really huge and the food sector that were still allowed back then to work. Most OFWs have lost their jobs. Somehow our currency did not drop so much so it’s a wonder how they did that during pandemic.
Gold is the key
OFW remittance is the source off its fluidity.
I can see now why the PH is still running despite its corrupt/incompetent/not doing enough bare-minumum leaders as a president. Thanks for the informative video and glad that you just went on with the pronunciations of the PH words, we really dont mind pronunciations and its kinda annoying to see in videos where they keep mentioning that theyre pronouncing it wrong.
I can see you're coming from the point of view of supporting a candidate who could not even achieve the barest minimum of wining the presidential elections.
@@gilberth7 This is a laughable argument considering the elections have become a popularity vote, what with artists and even convicts such as Bong Revilla winning the elections. It speaks volumes of the type of people being voted into position and the "not even bare minimum brained" voters.
@@rygriff4688 the bare minimum is that voting and running for office is a matter of right. You win or vote, good. You lost or did not vote, do better next elections, not conveniently and delusively claim incompetence or ignorance of the other sides. Bong revilla, for the record, has been declared not guilty by the court, no matter how you or i wish he was in jail. Uberwhiners make skyhigh standards as bare minimum, so there. The country still afloat is a proof the affairs of the state is above bare minimum. Maybe not stellar, a flawed democracy and society at that, but not a failed state as you paint it.
@@gilberth7 In the first place you are the one who is dragging the names of people who lost the elections into the argument, despite the fact that they have no bearing towards how the current administration is running but I digress. Bare minimum and all, results are what matter in the end right? and it's simply an irrevocable fact that the economy is not looking good for the current administration. Poor households have shot up, the issue of inflation, the number of part time workers are up but full time workers actually have gone down, etc. Don't even get me started on the Maharlika Fund which is being painted as an economic cure-all when it has such big risks.
@@gilberth7 Also, really? Bong Revilla? It may have been harsh to call him a convict but his unexplained wealth which was not reflected in his SALN, as a public servant, is very obviously suspicious.
BSP is the most clean and honest institution here in the Philippines. Job well done Mr. Benjamin Diokno. 👏💗🇵🇭
Ha?
It was Tetanco! Check his awards.
BSP Boy scout of the philippines.
@@gilberth7As a BSP governor, asan?
@@rannarann9316
LMAO! 😂 😂😂
Wow, first time knowing BSP is performing well! I'm happy knowing this, this is positive news.
The central bank (also called reserve bank in other countries), regulates and supervises all financial institutions like banks nationwide.
As our Benjamin Diokno honestly told that we have a lot reserved of gold as our potential source we are selling gold not buying gold as our source of income for our Central Bank of the Philippines. I believe it is our gold reserves as our collateral for booming our economy ..
Where’d you hear this?
That is true God Bless those people.
The government is corrupt, luckily the bangko sentral Pilipinas is a source of pride and integrity.
BSP's success was borne out from the failures of the 1986 oil crisis and the 1997 asian financial crisis.
They should record their accomplishment for future successors to view their work
And they act immediately on any report to them. Even a small amount.
There is one aspect of the Philippine central bank that needs to improve: a continued and sustained reinvestment and expansion of its equity of its balance sheet. The Philippines government should require that at least 70% of annual central banking profits be reinvested to expand the equity of its balance sheet. This will allow higher tolerance to external shocks as well as strengthening the stability and reliability of the Philippines currency vs other currencies. The advantages of a large, liquid, and stable currency and banking system is an enviable goal for any country.
True that is why Diokno has the most high salary of all govt officials, he is very well mannered to do his job, God bless
Wow this made me happy and proud of the BSP! Maybe the one little thing they did that was quite annoying was made our coins very similar, almost identical with one another. It’s a small thing but quite a hassle sometimes 😅
If I'm not mistaken part of the independence of our central bank can be attributed to the banking reforms undertaken during the Ramos administration. In case anyone is too young to remember the Philippines was the least affected country during the Asian Financial Crisis of 1997 primarily due to the prudent fiscal policy starting with Cory's term.
wow I didn't know bsp is an independent institution until now. I thought it was managed by the government
Question: Is the Banko Sentral ng Pilipinas a private entity or a public entity? If private then who's the owner? If public then why the government doesn't have a direct control of it?
You need to read the Charter to answer your questions. It's on te website.
@@fernandoesteban2345nope… and the same question could be asked on the Federal Reserve. That is why they are called the “banksters” by those who truly know what they are and what they do.
It is a government-owned corporation, but operates autonomously and independently from the government, which is great since it will not be affected by whatever politics happens in the national government.
And as stated in the video about the New Central Bank Act of 1993, it was created to be an independent institution.
@@ericaarcadia7178 tanong: nangungutang din ba ang Gobyerno ng Pilipinas sa BSP tulad ng US na nangungutang sa kanilang FED reserve?
@@songdoongki5287 yes
Great content😊 Thanks
The best bank of the Philippines was penalized by the central bank due to irregular transaction..
Let me guess, red or blue?
Which one??
I think it's blue😂
@@CypressC2j BDO?
@@markarca6360 I'm not quite sure but during 2000 there's an issue about this bank.also equitable bank also theres a time hanging.
Wow,well done!now I know how important ur task in our country.God bless
Very informative!
That why we have very confusing five pesos coins and one pesos coins
This has surprised me as someone who rarely watches events within my own country. Or the fact that I don't give a damn, and I already lost the hope for my own country to develop. I was also wondering how, despite the issues concerning our economies, that our country is able to move on both feet. So this must be the reasons. The methods really did well in our current situations. But be aware that countries has different situations, which means this implementation might not suit well to other countries. I keep seeing people glorifying them which is amendable, but so overrated that they think they are at the top. My opinion will serve nothing, but to people who keep saying smart things, those are all useless perspective if you don't plan on doing it.
tbh this is my first time hearing knowing this news. i got goosebumps. thank you for saving us, BSP!
my only question is: why the PH peso suddenly dipped down to P50 to $1 during buenaventura's term? what caught the BSP off guard during that time? 🤔
Interesting video. Love from Korea 😊
oh, that's why we somehow went back to normal after the lockdowns? well, that's new information to me. kudos, BSP! keep up the good work!
MAKE THE PHILIPPINES GREAT AGAIN 💖
when was the last time the Philippines used to be *GREAT?*
@@youcantalwaysgetwhatyouwan6687when you're not yet made
@@rodmarmayola6379
I was born in 1972. What year was the Philippines used to be great?
@@youcantalwaysgetwhatyouwan6687 oh so you're still dumb that time? Forget about it
@@youcantalwaysgetwhatyouwan6687
1950's and 1960's
Kudos, having a relative working in BSP, makes me proud. Contributing factor as well, might be the check and balance, following the numbers still doesn't lie.
why not.. from.SICK MAN OF ASIA.. to Rising tiger.. philippines leading among SEA countries in economy... i think credit goes to BSP.. BSP suggest to congress to pass a law on economic laws.
Let's continually pray for Philippines' protection from enemies, and continued progress.
China is the "Sick man of Asia" due to overselling of opium in their country by the British Empire
GOLD reserve has been used to keep strong when financial crises strikes
Yup.. mabankrupt n lahat ng central bank sa mundo but never ang bsp
If that is so, why did it allow the maharlika investment fund dip its hands into it?
Because it will help good for country. Pls remove politics in your mind.
We survived the financial crisis in 2008 because of Tetangco
Talaga, si Tentangco? Ano na ang status ng 3,000 + metric tons of gold spirited from the BSP during his term as Governor? Nagtatanong lang po.
I agree! I am so proud of our Central Bank. Because of CB, the rules our banks follows are quite strict but I feel assured of the safety of our money. I just wonder why the Central Bank is allowing the Maharlika Funds touch the “excess” money of Landbank and DBD?
Maybe CBP sees something good can come out of it, especially for the people. Let us hope that it’ll keep a vigilant watch over the Maharlika Fund.
Well they know better than us.. so let's rely on them.. and also they wouldn't allowed it if they think it will not work..
@@ashlee4063 I don’t fully agree. That’s the people’s money. More like let us be vigilant.
It is the wisdom of the centrqal bank. You have piles of money just sitting there, when it could earn interest if it is invested. What a waste of time, Maharlika Fund should have been created a long time before.
@@gilberth7 It wasn’t Central Bank who suggested Maharlika fund. And what extra funds are we talking about when we have a lot of programs that needed funds for our agriculture alone, housing, health requirements, and so on and so forth. And let us not forget the trillions of debts that we have to pay. Wala tayong extra cash.
Those “excess” funds instead of being placed in Maharlika, which can lose money because of the very volatile international market, should instead be loaned to our local market. That’s what Pag-Ibig, SSS, Landbank for agriculture is for. And as mentioned earlier, funds for the programs that cannot fully push through due to lack of funds. Those should be the priority for these “excess” cash and not Maharlika.
Lucky for us we have two reserves of dollar and gold reserve. Also we dont end up like hyperinflation country they just print print money
Benjamin Diokno is so underated
But he supported the Maharlika investment fund. ugh.
@@shiroganeadventurer1574correct
@@shiroganeadventurer1574the current secretary of finance has provided justification for the need and his support for the MIF. In fact, it was not even him who pitched the idea seriously, it was the previous secretary (Dominguez) but the Duterte admin failed to act on it as caused by the fiasco brought by the pandemic. Unless you can justify your opposition on the matter, this comment spawns stupidity on the internet.
@@shiroganeadventurer1574between your opinion and diokno's, I'll take diokno's, ugh!
Underrated? He has the highest salary among government officials.
I know nothing about economy 😅 but a friend of mine who knows that field so well has once told me that PH has a “very sound and solid fundamentals"
May pera po ang pinas. Di lang maipadaloy ng husto dahil sa dami ng redflags sa mga instution ntin. Ma bankrupt n lahat ng central banks mundo. Pero ang bsp ntin never yan matitibag
Salamat sa Panginoon na may mga mahuhusay, matatatapat at matitinong lingkod bayan tayo sa BSP. Mabuhay.
Wow nice and proud, from Manila.
The Filipinos will criticize first the BSP department and the person running the department before knowing their big contribution to the country. Filipinos will only be proud of them if they are recognized by other foreign countries while explaining how this department contributes to their economy. Filipinos love validations from foreign countries before saying "Proud to be Pinoy!"
True
inferiority complex😂 the Philippines should have a cultural revolution or such, changing leaders will not lead this country to prosperity but changing the peoples views and having principles to follow. nonetheless, we're far from being a one country 😂😂😂😂
This is one odd example of the revolving door working well. It is well known that Central Bank officials work as consultants for private big banks after leaving office. If you f-- up during your stay in the BSP odds are no private bank will hire you.
at least we did something right in the Philippines.
Daming Crabs na Robot d2.
Wow amazing
Who owns the Bangko Sentral? It is a private corporation owned by wealthy private groups and individuals. Therefore those who owns it controls it and can manipulate it.
as pilipino i wonder how philippines still alive today.. so many corrupt politician and many political instability specialy in mindanao plus the terrorist groups and communist rebels and very slow progress specially on the date of 2000 thru 2016 . but now i realise because of this BSP they kept alive the philippines and now they made a very good momentum to make it more stable and develop country.
Computer Secretary
May 7, 2024
6:25
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The world gold is there too.
I agree some comments here not knowing what they talking financial institution is broad not on included on corrupt this mindset corrupt is a mindset of crab mentality its like talking while sleeping without doing.
huhuhu imagine if most things in the ph has transparency and working as expected. ahh so close yet so far
Along with the Commission on Audit, the Bangko Sentral ng Pilipinas is one of the cleanest government agencies.
Intriguing.
This is true, I agree to this
Absolute power corrupts absolutely. Being independent also means a lack of over site. Where there is little over site of the central bank, there is the risk of corruption. I am skeptical of this site because it sites nothing negative which is highly suspicious.
Heard of this multiple times, however the country is still poor. it's Amazing how it can avoid corruption unlike the other government agency to an extent and hopefully it doesn't have the old lazy working people like its other agencies
My pera po tlaga ang pinas di lang maipadaloy dahil sa mraming redflags sa mga institution natin.
what will i do to in cash my gold dollar certificate100,000 1934 ?to central bank of cebu?
This channel is slowly showing its true colors.
seriously? All that and we still can't install a functioning ATM at NAIA
That's the NAIA's problem not the Central Banks.
Are you a clown? That has nothing to do with BSP
Waiting for the timing of modern economy.silent is more effective....
True
World Romeo Sebial Lucero BankNote Collecton-Philippines-pt1
It's a miracle how they manage all the shit that happened from 2016 up to present.
Philippine Gov't: struggling
Meanwhile:
BSP: Excellency
Watching
Hi Behind Asia your channel is fair and balance so pls do not use rappler as your source, rappler is a cesspool a prime example of presstitute.
People of the Philippines are quick to blame government when it comes to economic woes. Where in fact, BSP, the entity responsible for Ph economy is entirely independent from the government lol.
Mas ok ang Central Bank natin kumpara sa US. Yung sa US kasi inabuse na nila yung pagprint ng pera, kaya ayub ikot ang pwet nila kakaincrese ng interest rates para mapababa yung inflation.