https://www.scmp.com/rss/506974/feed Dr Benjamin E. Diokno is governor of the Philippine central bank (Bangko Sentral ng Pilipinas). en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com In 2020, Covid-19 exposed significant gaps in the financial services sector. As the virus ravaged communities, people in the informal and cash-reliant economy were the hardest hit. The cost of financial exclusion came to bear, and the bill was enormous. Billions of people around the world do not have a bank account. They don’t have access to credit, ATMs, debit cards or savings accounts. When the pandemic struck, many of them suffered greatly as governments struggled to get cash subsidies to... https://www.scmp.com/comment/opinion/asia/article/3162604/covid-19-has-turbocharged-digital-banking-philippines-now?utm_source=rss_feed https://www.scmp.com/comment/opinion/asia/article/3162604/covid-19-has-turbocharged-digital-banking-philippines-now?utm_source=rss_feed Sun, 09 Jan 2022 04:30:14 +0000 Six months into the most consequential crisis in living memory, the world is coming to grips with what recovery may look like and the scale of effort needed to achieve it. As governor of the Philippine central bank (Bangko Sentral ng Pilipinas, or BSP), I must consider every day the grave economic challenges facing my country, and craft monetary and financial sector policies to preserve stability and stimulate growth. This pandemic has reminded policymakers of our deepest responsibility – to... https://www.scmp.com/comment/opinion/article/3098471/why-philippine-economy-poised-strong-recovery?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3098471/why-philippine-economy-poised-strong-recovery?utm_source=rss_feed Sun, 23 Aug 2020 05:30:08 +0000