BIS holds meet in Manila

Several central bank officials of major economic powers held a meeting at the newly-opened Executive Business Center of the Bangko Sentral ng Pilipinas (BSP) last week. The meeting was under the auspices of the powerful Bank for International Settlements (BIS), and it was presided over by William R. White, BIS economic adviser.

The BIS is an international organization based in Basel, Switzerland that acts as a bank for central banks worldwide. Chartered in 1930, the BIS evolved in the 60’s into an influential monetary institution, assisting central bankers in their tactical and strategic needs.

"We are very happy that the BIS chose the Philippines as one of its conference and meeting sites. That is a good indication," Bangko Sentral ng Pilipinas (BSP) Governor Rafael B. Buenaventura said.