Event Report  International Exchange

Diwa Guinigundo Seminar "The latest developments of the Philippines' Economy ~ the fastest growing economy in East Asia"

February 19, 2019, 16:00 - 17:30
Venue: CIGS Meeting Room

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(Mr. Guinigundo, Mr. Kotegawa from the left)

Seminar outline
Title: "The latest developments of the Philippines' Economy ~ the fastest growing economy in East Asia"
Speaker: Diwa C. Guinigundo, Deputy Governor for Monetary and Economics Sector, Bangko Sentral ng Pilipinas
Moderator: Daisuke Kotegawa, Research Director, CIGS

ProgramPDF: 330KB

Presentation by Diwa C. GuinigundoPDF: 3.21MB

Abstract of the Speech
With the election of president Duterte, the Philippines is going through many positive changes, including economy, politics and security.
Deputy Governor of the Central Bank, Diwa Guinigundo, gave us a clear oversight of this ongoing developments as well as the key points of reforms being instituted under the Duterte government.

Speaker's profile
Diwa C. Guinigundo is Deputy Governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He has been serving the BSP for 40 years. He has handled monetary policy, treasury operations, loans and credit, asset management, currency management, regional operations and international operations.
He has extensive international experience. In 2001-2003, he was Alternate Executive Director at the International Monetary Fund in Washington, DC. Earlier he was Head of Research at The SEACEN (Southeast Asian Central Banks) Centre in Kuala Lumpur in 1992-1994. Since 2000, Dep. Gov. Guinigundo has cochaired with Bank Negara Malaysia the SEACEN Experts Group on Capital Flows and in 2010-2013, the ASEAN Senior Level Committee on Financial Integration. He chaired again the ASEAN Senior Level Committee for 2016-2018. He also chairs the SEACEN Task Force on SEACEN membership. He chaired the 2017 ASEAN Finance and Central Bank Deputies' Meetings in Manila, the Philippines in April 2017. For the period 2009-2012, he chaired the Executive Meeting of East Asia and the Pacific (EMEAP) Monetary and Financial Stability Committee of EMEAP central bank deputies that is tasked to conduct regional and global surveillance. He established various early warning systems for surveillance and risk management purposes.
He has profound knowledge of all central banking aspects. He pioneered inflation targeting as the BSP's analytical framework for monetary policy in 2002. In 2016, he was instrumental in introducing the interest rate corridor system as a tool for monetary management to keep inflation under control. He is also the moving force behind the BSP's advocacy for economic and financial literacy to help the poor manage their finances and address the issue of poverty. Dep. Gov. Guinigundo also championed the establishment of Credit Surety Funds all over the Philippines to empower micro, small and medium enterprises by enhancing their access to bank credit without collateral. He participated in various banking rehabilitation workouts. Dep. Gov. Guinigundo graduated, cum laude, at the top of his AB Economics Class at the University of the Philippines (UP) School of Economics. He earned the M.Sc. degree in Economics at the London School of Economics (LSE) as a scholar of the Central Bank of the Philippines.
He is the 2018 recipient of Promise Governance Leadership Award for Asia in Los Angeles, California, USA.