BSP CONFAB. The Bangko Sentral ng Pilipinas in Butuan City holds the Conference on Gearing Up for External Competitiveness in Butuan City on Tuesday (Oct. 29, 2019). The attendees -- 86 top officials of banks, importers, exporters, government agencies and businesses from various parts of the Caraga region – were updated on the various consequences of global economic trends. (PNA photo by Alexander Lopez)
BUTUAN CITY -- With the aim of keeping the financial sector, the academe, and other stakeholders in the Caraga region well-informed on the trends and outlooks in the global economic environment, the Bangko Sentral ng Pilipinas (BSP) conducted the Conference on Gearing Up for External Competitiveness here on Tuesday.
The conference also presented to the participants the various consequences of global economic trends to exports, especially the impact of the trade war between the US and China on developing countries in Asia, including the Philippines.
Glizreil Rose Quijada, head of the Economic and Financial Learning Center of BSP-Butuan, said the conference also discussed the recent trends on the exchange rates in the country amid market and economic trends worldwide.
Quijada said the conference was joined by 86 top officials of banks, importers, exporters, government agencies and businesses from various parts of Caraga.
The activity was led by V. Bruce Tolentino, a member of the Monetary Board of BSP, and Felicitas C. Concha, deputy director of BSP-Butuan.
Other speakers during the event were Kristina V. Baris, a research associate for the Asian Development Bank who discussed the impacts of trade conflicts to countries in Asia; and Dr. Ramon L. Clarete, a professor and lecturer of the University of the Philippines School of Economics, who discussed approaches on staying competitive amid the existing trade wars and trends.
Acting BSP Deputy Director Joselito R. Basilio also presented the recent economic developments and exchange rate trends in the country.
Quijada said the conference was proven advantageous to the financial sector in Caraga as it provided a wider outlook on the current financial and economic trends in Asia and the world.
The conference also kept the financial sector updated on the latest financial and economic policies and priorities of the administration of President Rodrigo Duterte.
Financial program for farmers
During the open forum on the sidelines of the event, Tolentino told reporters that the government is pushing for sturdy moves to support the rice farmers affected by the Rice Tariffication Law.
Duterte, he added, is working with Congress to provide farmers financial support through cash transfers.
The approach, Tolentino said, would help farmers develop a more liberalized rice market in the country.
Earlier this month, the regional office of the Department of Agriculture (DA), through its Agricultural Credit Policy Council, together with the Land Bank of the Philippines, released PHP4.9 million in cash assistance to 332 palay farmers in San Francisco, Agusan del Sur.
The assistance was made possible through DA’s Expanded Survival and Recovery Assistance for Rice Farmers (SURE Aid) Program. (PNA)
