00:00The country has regained its financial stature on the world stage after being expunged from the list of high-risk nations
00:07reputed for money laundering and terrorism funding after four years in the European Commission's doghouse.
00:14Such delisting is a result of the Marcos Jr. administration's efforts
00:19in putting more safeguards and stricter control measures in the country's banking system
00:23as we hear more from our Sharms Espina.
00:26Three years after being placed on the European Commission's list of high-risk countries for money laundering,
00:35the Philippines has been formally removed from the list this August.
00:39Malacanang said that the development reflects the Marcos administration's stronger measures
00:43against money laundering and terrorism financing.
00:46These are efforts taken to curb funds for smuggling, corruption and illegal gambling
00:51as well as preventing the financing of terrorist groups.
00:54Senyalis ito na gumagana ang mga hakbang ng Administrasyong Marcos Jr.
01:00para palakasin ang kumpiyansa ng mga international investors sa bansa.
01:06Bukod sa mas maraming potential investors,
01:08ang maaaring mainggan niya na mamuhunan sa bansa,
01:13posibleng bumaba ang remittance fees at mas gumanda pa ang relasyon sa pagitan ng ating local banks
01:19at ang kanilang foreign counterparts.
01:22Castro added that President Marcos directed the Banco Sentral ng Pilipinas
01:26to further intensify reforms to strengthen the country's financial system.
01:31Utos ni Pangulong Marcos Jr.,
01:33lalo pang pag-iigihin ng BSP ang mga reforma upang palakasin ang ating financial system
01:41na siya namang magsusulong ng economic growth and global confidence.
01:46Malakanyang, meanwhile, expressed optimism that the country will achieve upper middle income status this year
01:51after the Philippines recorded a gross national income per capita of 4,470 U.S. dollars in 2024,
02:00just $26 short of the World Bank threshold.
02:04This status is significant as it reflects higher income for Filipinos,
02:08indicating national progress and encourages more investments into the country.
02:12This is Sharm Zespina from the National TV Network for a new and better Philippines.
