2 weeks Tolentino warns BSP vs selling gold reserves during pandemic Inquirer
MANILA, Philippines --- Senator Francis Tolentino on Thursday cautioned the Bangko Sentral ng Pilipinas (BSP) that selling a small portion of the Philippines' gold reserves amid the COVID-19 pandemic may be in violation of the law. During the Senate finance committee's deliberation on the proposed P4.506 trillion national budget for 2021, Tolentino told BSP Deputy Governor Francisco Dakila that certain provisions of Republic Act No. 7653 or the New Central Bank Act of 1993 may limit the selling of the country's gold reserves during emergency situations. "The BSP family should be aware of RA 7653 specifically Section 72 and I ... more