The Philippines could benefit from volatile external financial markets in the long run but it is important to adopt the right policies to realize gains, the Bangko Sentral ng Pilipinas (BSP) chief said on Tuesday.
“The low inflation, because of the lower global oil prices, would be one of the advantages. But we need to closely monitor the developments and the potential impact of these developments on us and adopt policies to address the potential impact,” central bank Governor Amando Tetangco Jr., told The Manila Times at the sidelines of a forum staged by the paper.
Tetangco, who spoke at The Manila Times 3rd Business Forum, stressed that in the case of volatile financial markets, the Philippines had relatively weathered the volatility because its macroeconomic conditions remains sound.
“Keeping one’s house in order is always a good thing. When the time come that investors will differentiate among different emerging economies, I think we will be in a good position because the macroeconomic conditions in the Philippines continue to be strong. It will be a plus for us,” he said.