Philippine Economy Turned Corner, But Remains Fragile: Diokno

The transcript discusses the economic outlook of the Philippines, highlighting a cautious approach to policy due to fragile recovery. Optimism is driven by a successful vaccine rollout, with expectations to vaccinate the entire adult population by the end of 2021. The BSP maintains loose monetary settings, focusing on employment and growth. The growth forecast is revised to 6-7%, contingent on vaccination targets. The BSP has infused significant liquidity into the system and increased the fiscal deficit, but sees no threat to fiscal stability. Digital bank licenses are limited to ensure effective monitoring.

What factors are contributing to the cautious approach to loosening policy in the Philippines?

How many doses of vaccines are expected to be received by the end of the month?

What is the significance of the vaccine rollout in relation to economic recovery?

What are the revised growth forecasts for the Philippines, and what assumptions are they based on?

What measures are being taken to ensure the effective transmission of monetary policy to the real economy?

How does the current debt to GDP ratio affect fiscal stability in the Philippines?

What is the current status of digital bank licenses in the Philippines?