Central Bank of the Philippines

03/29/2021 | Press release | Distributed by Public on 03/30/2021 05:48

BSP Participates in the 7th ASEAN Finance Ministers' and Central Bank Governors’ Meeting (AFMGM) and Related Meetings

Media and Research - Press Releases

https://www.bsp.gov.ph/SitePages/MediaAndResearch/MediaDisp.aspx?ItemId=5729

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BSP Participates in the 7th ASEAN Finance Ministers' and Central Bank Governors' Meeting (AFMGM) and Related Meetings

March 29, 2021

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From Left to Right: Governor Benjamin E. Diokno, Bangko Sentral ng Pilipinas; Minister Dato Dr. Amin Liew Abdullah, Minister of Finance and Economy Brunei Darussalam; Managing Director Rokiah Badar, Autoriti Monetari Brunei Darussalam; Minister Sri Mulyani Indrawati, Ministry of Finance Indonesia; Managing Director Mari Pangestu, World Bank; Deputy Managing Director Mitsuhiro Furusawa, International Monetary Fund; President Masatsugu Asakawa, Asian Development Bank; President Liqun Jin, Asian Infrastructure Investment Bank; Director Toshinori Doi, ASEAN+3 Macroeconomic Research Office; Secretary-General Lim Jock Hoi, ASEAN; Deputy Minister Dato Ahmaddin Rahman, Ministry of Finance and Economy Brunei Darussalam; Secretary of State Vissoth Vongsey, Ministry of Economy and Finance Cambodia; Governor Chea Chanto, National Bank of Cambodia; Governor Perry Warjiyo, Bank Indonesia; Deputy Governor Vathana Dalaloy, Bank of the Lao PDR; Deputy Minister Bounchom Ubonpaseuth, Ministry of Finance Lao PDR; Deputy Governor Than Than Swe, Central Bank of Myanmar; Governor Nor Shamsiah Mohd Yunus, Bank Negara Malaysia; Undersecretary Azah Hanim Ahmad, Ministry of Finance Malaysia; Deputy Governor Nguyen Kim Anh, State Bank of Vietnam; Managing Director Ravi Menon, Monetary Authority of Singapore; Deputy Prime Minister Heng Swee Keat, Ministry of Finance Singapore; Secretary Carlos G. Dominguez III, Department of Finance Philippines; Governor Sethaput Suthiwartnarueput, Bank of Thailand; Minister Arkhom Termpittayapaisith, Ministry of Finance Thailand; Deputy Minister Tran Xuan Ha, Ministry of Finance Vietnam

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Governor Benjamin E. Diokno represented the Bangko Sentral ng Pilipinas (BSP) at the 7th ASEAN Finance Ministers' and Central Bank Governors' Meeting and Related Meetings, including the ASEAN Central Bank Governors' Meeting, Dialogue with Financial Institutions CEOs, and Special Session with International Financial Institutions, held via videoconference on 29-30 March 2021.

With the 2021 ASEAN Chairmanship theme, 'We Care, We Prepare, We Prosper', the Finance Ministers and Central Bank Governors exchanged views on the global and regional outlook as well as opportunities and policy challenges for the ASEAN region under the current economic environment.

This year's meetings focused on financial integration initiatives, digitalization, and sustainability, which the ASEAN Member States consider to be vital in the ASEAN recovery process and long-term regional resilience.

Governor Diokno, for his part, shared the Philippines' gains and efforts in digitalization and sustainability amid the current circumstances. He further emphasized the role of digitalization in financial inclusion and our recovery. Particularly 'Technological innovations, if channeled the right way, can curtail financial inclusion barriers and can be favorable to our economic recovery,' Governor Diokno explained.

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