which fosters environmentally responsible and sustainable policies and work practices within the bsp. we have started instilling environmentally sound habits among ourselves by prohibiting singleuse plastics in our premises. we also issued the sustainable finance framework which forms the first phase of our enabling regulations on sustainability. for all these great initiatives to flourish, we need your support. you have been our partners in statistical undertakings, information requirements, advocacy programs, and various initiatives for many years. you never left us even during the most trying times. now, we enjoin you to help us prepare for the new economy by promoting digitalization, financial inclusion, and sustainability. together, we can b - s - p — build a stronger philippines. today, we celebrate ; and tomorrow, we will do great things again. on behalf of the bsp, let me extend our gratitude to all our outstanding partners who have been our anchors and pillars throughout this journey. congratulations at mabuhay tayong lahat! 2 / 2 bis central bankers'speeches

amando m tetangco, jr : vigilance amid stability and growth speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( the central bank of the philippines ), at the annual reception for the banking community, manila, 18 january 2013. * * * distinguished guests from the banking community, the government, philippine business, the diplomatic corps, multilateral institutions, ngos, the media, special guests, good evening and a happy new year. the bangko sentral ng pilipinas and its monetary board welcome all of you to this traditional annual reception for the banking community. this annual ritual provides us the opportunity to come together to review the past and to share our roadmap moving forward. but first, allow me to call on my co - hosts tonight, the other members of the monetary board : finance secretary cesar purisima, mbm alfredo antonio, ignacio bunye, peter favila, felipe medalla, and armando suratos. as you may have noticed, the high - rise bsp building behind us greets everyone “ masaganang bagong taon. ” in english, this means wishes for “ a prosperous new year. ” our collective wish, here at the bsp, is for balanced, sustainable and inclusive growth that brings prosperity to filipinos. we at the bsp believe that if we unite and work together, this is not impossible. ladies and gentlemen. while global headwinds continued to challenge economies around the world home - grown sources of resilience enabled the philippine economy to grow with a 6. 5 % increase in gdp in the first nine months in 2012. this surpassed growth projections and earned for the country the distinction of posting one of the fastest growth rates in asia. this strong economic growth was achieved with inflation remaining low and stable. at 3. 2 % in 2012, inflation was well within the target range set by the national government. this tells us that our monetary policy settings remain supportive of non - inflationary growth. at the same time, the philippines continued to have a strong external position with, based on the latest figures, a balance of payments surplus of $ 9. 2 billion for full - year 2012 and gross international reserves at $ 83. 8 billion as of year - end. this continues to enhance confidence in our ability to meet potential shocks. another source of resilience for our economy is our strong and responsive banking sector. as of november