BSP starts preparing for PH’s post-pandemic recovery
The Bangko Sentral ng Pilipinas (BSP) has started its comprehensive review and assessment for the country’s post-pandemic recovery to avoid financial distress. So far, the central bank has infused the financial system P2 trillion in liquidity, or about 11 per cent of gross domestic product.
“With this amount of liquidity, we are carefully assessing the appropriate timing of the unwinding of all these measures… Doing this too late or too early may have serious repercussions on the economy,” said BSP Governor Benjamin Diokno.
Diokno said the biggest of the BSP liquidity support was in the government securities market.
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