BSP pushing for Anti-Money Laundering, Human Security Laws’ amendments to boost “A” credit rating for Philippines – Palace

March 3, 2020

The Bangko Sentral ng Pilipinas ( BSP) wants further amendments on the Anti-Money Laundering Act and the Human Security Act to further improve the country's credit rating.

In a press briefing on Tuesday, Presidential Spokesperson Salvador Panelo said that Central Bank Governor Benjamin Diokno discussed this during the Cabinet meeting in Malacanang on Monday.

"Bangko Sentral Governor Benjamin Diokno discussed the proposed legislative amendments to RA 9160 or the Anti-Money Laundering Act of 2001, AMLA and RA 9372 or the Human Security Act of 2007," he said. 

"The successful passage of key amendments to the AMLA and the Human Security Act according to Governor Diokno will compliment or boost our efforts towards an ‘A’ credit rating for the country," Panelo, also the chief presidential legal counsel, added.

The Philippines' credit ratings by most agencies are at "BBB" level. The highest tier is "AAA." Celerina Monte/DMS