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BSP can sell dollars to govt if sovereign wealth fund created — Tetangco

Posted on 21 March 2013

The establishment of a sovereign wealth fund is still “on the drawing board,” but if one is set up the Bangko Sentral ng Pilipinas can sell dollars to the government, the head of the central bank said Wednesday.
“As the Secretary of Finance has mentioned, it is still in the early stages. So it’s very much on the drawing board right now. Based on the study, they’ll be able to determine whether that is something that the government would want to establish,” BSP Governor Amando Tetangco Jr. said on the sidelines of the Chamber of Thrift Banks annual convention in Makati………………………………………..Full Article: Source


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