their development and future betterment... maraming salamat deped. today, we shall toast the importance, role and indispensable value of statistics in nationbuilding. as a central banker of thirty - six ( 36 ) years, i have seen, first - hand, how important statistics is in policy development. as policy makers, we know that statistics provides reliable snapshots of our realities. statistics allows us to paint a picture of what we hope for so that we could concretely visualize and set our goals. it allows us to form sound policy and quantitatively measure and monitor the progress of our initiatives and programs. in the bangko sentral, policy formulation is both data driven and data intensive. sound statistics point us to issues and vulnerabilities that must be addressed. statistics and careful statistical analysis are crucial input to our monetary policy actions. likewise, banking regulations and financial policies must also be grounded on comprehensive banking statistics and an extensive set of financial indicators. these evidence - based policies support monetary and financial stability, so that there would be strong and stable economic growth. our national vision for development – ambisyon natin 2040 itself was crafted based on statistical data – data from a rigorous consultative process involving the conduct and analysis of a national 1 / 3 bis central bankers'speeches survey, focus group discussions and technical studies. in the end, the responses and numbers articulate the needs and desires of all filipinos which were simplified into a vision broadly understood and accepted by all. in ambisyon natin 2040, filipinos express the hope for strongly - rooted, comfortable and secure lives. sa filipino, ang hangarin ng bawa ’ t isa sa ating mga kababayan ay ang magkaroon ng matatag, maginhawa at panatag na pamumuhay. in the bsp, this too is our vision... to be a catalyst for a financial system that delivers a high quality of life for all filipinos. we believe we are on the right track as the indicators tell a positive story. we are now one of the fastest growing economies in asia, with an annual gdp growth of more than 6. 0 percent since 2012, notably exceeding the long - term average of 4. 3 percent. our external position continues to be favorable, with gross international reserves ( gir ) of $ 81. 3 billion as of end - september. inflation is benign and broadly within the bsp

benjamin e diokno : moving from crisis to a stronger, tech - driven, more inclusive philippines speech by mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the citi macro conference – philippines, 4 october 2020. * * * good afternoon to all the participants of this virtual investor roundtable organized by citi. it is my pleasure to speak to all of you. the covid - 19 pandemic is unprecedented in many ways. it affects all. yet, it affects individuals, businesses, and countries differently. in the case of the philippines, policymakers are keen to make the country an economic champion in the post - covid era. in a true cooperative spirit, there is a whole - of - government approach with strong private sector participation to save lives, livelihoods, and businesses. we intend to turn this once - in - a - lifetime pandemic into a springboard to a new philippines, one that is economically stronger, more technologically advanced, and more equitable. there are three critical factors, in my view, that will spell the difference among economies in terms of speed and quality of recovery from the covid - 19 crisis. these are : ( i ) first – pre - crisis fundamentals ; ( ii ) second - emergency response ; and ( iii ) third – a new wave of structural / development reforms. the philippines, i believe, is faring well in all three factors. let me explain. first, pre - crisis fundamentals. there is a saying that goes, “ when the crunch comes, you better be ready. ” the philippines entered this crisis in a position of strength. in the recent years leading to the pandemic, the philippines is recognized as among the most resilient and fastest growing economies in asia and the world. it had low debt to gdp ratio, healthy external accounts, manageable inflation, ample domestic liquidity, and stable banking system. all of these provided enough fiscal and monetary space to roll out massive response measures without causing debt woes. we learned our lessons from the asian financial crisis. as a result of that crisis, there was a deliberate and conscious effort to gradually transform the philippines from the region ’ s laggard to one of its brightest spots. hence, our strong fundamentals today are the result of a long and varied list of structural reforms implemented in the past twenty years. 1 / 6