are moving due to continental drift and that we, bsp and baiphil, must therefore continue to move with the mountains even as we scale the one in front of us. in closing : inclusion as we climb i ’ d like to think also that there are several summits in banking and central banking … that as one reaches a vantage point, more and more of the surrounds are taken into perspective … as one climbs, one ’ s view becomes wider. i have heard from mountain climbers that when you reach the top, it is actually quite a humbling experience. i certainly felt that way when i climbed mt. fuji as a millennial graduate student in japan in 1988. at higher heights, one sees the bigger picture more clearly and wishes for others to experience the same. the same holds true as we experience more economic gains and successes. we want more and more people – our countrymen – to be included in the experience. our goal is for more of our countrymen to save and borrow for productive uses, avail of investment and insurance products, and send and receive payments securely and efficiently. we firmly believe that this financial empowerment is the only way for economic growth to be truly meaningful. we trust in baiphil to help us move this vision forward. baiphil can in turn count on the full support of the bsp for its future endeavours. mabuhay ang baiphil at bsp! maraming salamat po! 4 / 4 bis central bankers'speeches

amando m tetangco, jr : celebrating freedom and responsibility speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the 117th anniversary of philippine independence, guam, 26 june 2015. * * * i am deeply honored to be with you here in guam to celebrate the 117th anniversary of the independence of the philippines. this is a time of reflection. a time when we look back to honor the people who dedicated their lives to secure our freedom as a nation. a time to remember the significant events that define us as a people and as a nation. indeed, we must celebrate, commemorate, and value our heroes and their legacy of freedom. we are happy to note that this is well recognized by the government of guam with the proclamation signed by gov. calvo declaring june 2015 as philippine independence month. this brings me to the subject i wish to share with you tonight. in the philippines, we are working on developing an economy where growth is sustained, balanced and one that promotes inclusive growth. growth that improves the quality of life. growth that empowers. growth that breeds financial independence among our people similar to what you have here in guam. indeed, with the freedom to set our own course, the philippines is on track to achieve sustained long - term growth. among others, we have registered 16 years of uninterrupted economic growth. and time and again, the philippines has demonstrated a level of resilience that can withstand the effects of global financial distress or the devastating impact of natural calamities. in 2013, for instance, central philippines was struck in succession by a 7. 2 magnitude earthquake and by typhoon haiyan, considered the most powerful storm to make landfall in recorded history. thousands died, millions were adversely affected, properties and infrastructure were destroyed and heritage sites ruined. nevertheless, with overwhelming outpouring of international support, including from guam, and with growth momentum on our side, our economy still expanded by 7. 2 %, the second highest in asia, next to china. the bangko sentral ng pilipinas – which is the philippine central bank - plays a crucial role in laying the appropriate foundation to help keep our economy growing. in line with our mandate, the bangko sentral works on providing an operating environment where stability is the hallmark of price movements and the financial system. the objective is to create conditions that are