00:00The Banco Central ng Filipinas welcomed Moody's positive assessment,
00:03saying it confirms that the country's banking system remains on solid ground.
00:08BSP Governor Elie Remolona Jr. said local banks are well capitalized
00:13and ready to weather the storm backed by strong regulation and reserves.
00:17Moody's noted that the Philippines' foreign exchange buffers are enough,
00:21more than enough, to keep the wolves at bay,
00:23with reserves even surpassing pre-pandemic levels.
00:26The country also held onto its investment-grade BAA2 rating with a stable outlook,
00:32a vote of confidence that keeps borrowing costs in check and development within reach.
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