benjamin e diokno : opening remarks – “ money talks - what every filipino should know about the history of philippine money ” opening remarks by mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the virtual numismatic event, 11 november 2021. * * * to the philippine numismatic and antiquarian society ( pnas ), colleagues from the bsp, learners from state universities and colleges, fellows from knowledge resource networks and museums all over the country, friends from the media, and those who are watching us live from facebook, good afternoon. i am pleased to welcome you all to “ money talks : what every filipino should know about the history of philippine money, ” the first virtual numismatic event organized by the bangko sentral ng pilipinas in partnership with the philippine numismatic and antiquarian society. no less than proclamation no. 1486 series of 1975 declares november 17 – 23 of every year as national numismatic week and designates pnas to take charge of this national observance. but for too many of us, the coins and banknotes in our pockets are but a means to an end. we do not bother to look or even appreciate the intricate designs, security features, nor the vital historical moments captured in our money every time we take out our wallets to pay. but money plays an unquantifiable function outside of its textbook definition as a medium of exchange, unit of account, and store of value. over time, our coins and banknotes have served as a silent witness to history and human development – all the while it has changed hands and enabled transactions on a global scale. from exchanging physical goods through barter to the rise of gold and silver which gave way to paper and the modern - day new generation currency, philippine money has changed form and shape countless times throughout different historical periods. but in each of these transitions, our coins and banknotes never failed to capture and reflect vital historical scenes and figures. historian ambeth ocampo chronicles this storied journey in our coffee table book, yaman : history and heritage in philippine money, where he emphasizes, “ filipinos have to be reminded that they carry history in their pockets. ” today, professor ambeth will walk us through the history of money and how it plays into our unfolding story as a nation. we will also get to hear

: deepening capital markets : the case of south africa – 7 november 2006 3. 6 the monetary and fiscal authorities in south africa pursue sound policies which promote stability and provide a solid platform for growth and development. south africa has adopted an inflation - targeting framework for monetary policy, and the south african reserve bank has maintained inflation within the target range of 3 to 6 per cent over the past 3 years. furthermore, the maintenance of low and stable inflation is a goal shared by central banks in the southern african development community ( sadc ). to this end the central banks of sadc are far advanced in developing model legislation which provides for the pursuit of low inflation by central banks, an adequate degree of independence for the central bank, and limits on central bank lending to government. conclusion central bankers, and many who work in central banks often hear : they do not always listen. but that should be of little concern to those here present. those who are here, in the main, are not central bankers. they will likely hear and they may listen. for this reason, i have chosen to say nothing about the problems which, undoubtedly, exist in our respective regions. hearing and listening are, after all, some of the principal reasons for this dialogue : for it is the honest visitor who will innocently ask about the significance of the tick on your back, it tick there be – when you have chosen to behave as if there is not tick, least of all on your back. and it is the honest host who will respond appropriately. they said, who were wise, “ lentswe le tsela noka etletse ”. in free translation, “ the voice fords fluidly ee ’ n rivers full ”. let not the rivers or oceans separate us, for voices we have all. we also, unlike the ancients, have the possibility to invest in infrastructure to enhance communication. i thank you for your attention. references • imf. 2006. september 2006 factsheet on debt relief under the heavily indebted poor countries ( hipc ) initiative. http : / / www. imf. org / external / np / exr / facts / hipc. htm. site accessed on 1 november 2006. • mboweni “ deepening capital markets : the case of south africa ”, 7 november 2006 • mboweni : “ a historical review and a look at the future prospects of the national payment system in south africa, 15 november 2006. • nepad