Philippines' Central Bank Isn't Ready To Pull The Trigger On A CBDC
Philippine central bank governor Benjamin Diokno has announced that the institution's "exploratory" study of central bank digital currency study suggests that much more work is needed to make a digital peso a reality. During the summer, Bangko Sentral ng Pilipinas had confirmed it was investigating the feasibility and potential policy implications of issuing its own CBDC, or digital counterpart to the physical peso. In a press briefing, Diokno reportedly rejected the possibility that a CBDC could be issued any time in the near future. The study so far has suggested that ongoing research is needed to look into capacity-building and the creating of networks between other central banks and financial institutions.
