now and then, i watch telenovelas - korean - just to keep up with what my wife is watching. i was surprised that in one of the shows, it talks about a generation whose futures were permanently changed relative to other cohorts because they were hit by the financial crisis. malas ka na lang [ kung ] ga - graduate ka sa year na'yun. wasak ang ekonomiya. you had a bad start. and [ since ] you had a bad start, therefore, you had less opportunities. can you imagine, in this particular case, this was just a financial crisis, not a pandemic? so, if that [ topic ] would hit the telenovelas, then clearly, these shocks are really very important. kawawa naman'yung tinamaan. kawawa naman'yung mga pinanganak sa panahon na ito. 1 / 3 bis - central bankers'speeches by the way, my other reference to this is, i talk to people who were students during the japanese occupation. and very memorable to me is the story of our favorite deanmentor namin nina dante canlas, eli [ remolona ], manny esguerra. sabi niya, the japanese occupation changed his life completely because sabi ng tatay niya sa kanya, " hindi naman magtatagal ang hapon dito. dito ka na lang muna sa bahay. home study ka na lang. " ang problema, every year, his father will say that " hindi na magtatagal ang hapon dito. " so, he never really went to school for a period of time. of course, in this case, it was exactly the opposite. he was a very intelligent person. he was reading left and right - doing nothing but read. and he actually got a superior education because he did not go to school. of course, in reality, that is the rare exception. responsive policies begin with a deeper understanding of issues so, you can see then why this book is very important, and it goes beyond academic inquiry and policy guidance. as i said, maybe for every person there is a little story here. ano kayang mangyayari sa buhay ko if hindi nagkaroon ng pandemic? of course, you will never know, right? but we can all say that, clearly, the pandemic induced disruptions

part of the financial mainstream where they can access financial services and to have options other than informal lenders with prohibitive rates and onerous conditions. and we want our people to be able to protect themselves against scams and to know their rights as financial consumers. let us therefore forge partnerships that will empower more filipinos to improve their lives through access to responsive, responsible and fair financial services. finally, we thank her majesty queen maxima, for making a special visit to the philippines to express her support for our financial inclusion initiatives and our national strategy for financial inclusion. we take inspiration from your work in countries like ours. indeed, we support your efforts to promote financial inclusion in the global arena as a means to achieve development goals. with your support, and the commitment of everybody in this hall as co - implementers of the national strategy for financial inclusion, i believe that we are on our way to a meaningful and fruitful journey toward financial inclusion for all filipinos. thank you all for joining us on this auspicious day. maraming salamat at mabuhay! bis central bankers ’ speeches