BSP preparing for US debt default

The Bangko Sentral ng Pilipinas (BSP) is prepared for the worst situation that the United States default may inflict to the Philippines and other financial markets, according to a BSP official.

“Expect the worst so you are also preparing for the worst. And that’s what we’re doing. We continue to monitor, we continue to do our surveillance—national level information, regional and global,” BSP Deputy Governor Diwa Guinigundo said reporters.