(Korea Times) The member countries of the Asian Development Bank (ADB) should continue to enhance multilateral financial cooperation to ensure sufficient liquidity and foreign exchange reserves against possible economic crisis, the top central banker of the Philippines said.
In an exclusive interview with The Korea Times, Felipe Medalla, the governor of Bangko Sentral ng Pilipinas (BSP) ― the Philippines’ central bank ― also said expanding Korea’s trade with the Philippines will be helpful on the region’s path to financial inclusion.
“The nature of financial cooperation, especially when it comes to do with liquidity and reserves, is pooling resources. So, clearly, cooperation is more effective in times of crisis if it is on a multilateral level,” Medalla said Wednesday as he was attending the 56th annual meeting of the ADB.
The meeting is taking place at Songdo Convensia in Inchon’s Songdo International Business District on a four-day run through Friday.
Medalla made his remark in line with the ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting that took place, Tuesday, on the occasion of the ADB gathering… Read More
