Philippines central bank backs 'vital’ reforms
Government mulling bills that would quadruple central bank’s capital
The Central Bank of the Philippines (BSP) believes government proposals to quadruple its capital and expand its mandate will help "forge a stronger BSP".
A total of 11 bills were submitted to the Congress of the Philippines in October to update the Bangko Sentral ng Pilipinas (BSP) Charter that was enacted in – and remains unchanged since – 1993.
One of the headline reforms would, if passed, force the government to quadruple the central bank's capital from 50 billion pesos ($1.1 billion) to 200
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