The IMF's recommendation to the Bangko Sentral ng Pilipinas (BSP) aims to ensure the stability of the country's financial system, with a focus on maintaining a resilient banking sector and a sound regulatory framework.
"Implementing capital restoration plans for two state-owned banks following their contribution to the MIC's start-up capital and exiting regulatory relief as soon as possible is important," the IMF said.
"While the establishment of the MIC can help address the country's investment needs, it should not come at the cost of a resilient financial system, sound regulatory framework, and level-playing-field," it said.
In September 2023, the Land Bank of the Philippines and the Development Bank of the Philippines remitted its contributions to the MIC.
Bu hikaye The Philippine Star dergisinin December 25, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Philippine Star dergisinin December 25, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
MMFF AT 50: WHAT MAKES EACH FILM WORTH WATCHING?
THAT TIME OF THE year has come when the Metro Manila Film Festival MMFF), which is having its golden edition, presents a collection of films that are in stark contrast in terms of narrative and theme. There are two or even more, however, that may belong to the same genre classification.
PIOLO GRATEFUL FOR LOVE TEAM WITH JUDAY: THAT MADE ME BECOME MAINSTREAM
In the 2024 Metro Manila Film Festival (MMFF) official entry “The Kingdom,” Piolo Pascual essays the role of an outcast farmer who is shunned by society but becomes an unlikely hero in the kingdom's quest for change.
COUNTDOWN TO SPLENDOR AT NEWPORT WORLD RESORTS
Newport World Resorts sets the stage for an unforgettable New Year celebration.
A TOAST TO LOCAL FLAVORS: FILIPINO FRUITS IN CRAFT COCKTAILS
A drinks menu caught my attention last Dec. 2 during chef Miko Calo’s AVEC Series at Makati Shangri-La’s Sage Bar, which ran from Nov. 18 to Dec. 9.
HOW I ALMOST MISSED ZEROBASEONE'S TIMELESS WORLD' IN MANILA
As much as I love Zerobaseone, I have to admit that the Manila leg of their concert didn’t start off well — at least for me.
Cost reduction, competitive pressure driving AI adoption in Phl
The need to reduce costs and pressure from competition are key drivers for artificial intelligence (AI) adoption among companies in the Philippines, but limited use cases and scalability challenges are obstacles to fully leveraging the technology, according to IBM.
Aboitiz, partners allot over P2 B for wind farm grid integration
Lihangin Wind Energy Corp. (LWEC), a joint venture of Aboitiz Renewables Inc., Vivant Energy Corp. and Singapore-based Vena Energy, is spending over P2 billion for the transmission connection of its massive wind farm in northern Samar.
ICTSI Receives Maiden Container in Indonesia
The International Container Terminal Services Inc. (ICTSI) has welcomed its first container call in East Java, showing the capability of its Indonesian project to handle different kinds of vessels.
PEZA, DOLE sign data sharing agreement to streamline visa processing
The Philippine Economic Zone Authority (PEZA) and the Department of Labor and Employment (DOLE) have signed a data sharing agreement to streamline the PEZA visa application process as part of efforts to improve ease of doing business.
Fisherfolk poverty to worsen if big fishers enter municipal waters
Non-government organizations assailed the Supreme Court's decision to uphold a Malabon Regional Trial Court ruling of allowing commercial fishers within the 15-kilometer municipal waters as it would accelerate depletion of fish stocks at the expense of small fishers.
