The increasing level of political and economic stability in the Philippines means the country's central bank should move a portion of its reserves into a sovereign wealth fund (SWF) based on a pension-fund model, according to Felipe Medalla, member of the monetary board of the Central Bank of the Philippines (BSP).
The BSP has reserves of $80 billion, equivalent to about one third of the country's GDP. These assets are managed on a conservative basis, primarily invested in highly rated sovereign
- James Bullard on 2% rates, tariffs and Fed leadership
- Podcast: David Hendry and John Muellbauer on empirical macro
- Argentinian central bank takes drastic action over currency crisis
- Turkish central bank raises overnight rates in bid to stop lira’s fall
- Policies must change to stop emerging markets crisis, analysts say