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Asia must guard against another financial crisis, Philippines central bank chief says

BANGKOK: Asian countries must remind themselves about what happened during the region's financial crisis in the late 1990s and guard against a recurrence of such shocks, the head of the Philippine central bank said on Wednesday.

The Star MalaysiaReuters查看原文 ↗
菲律宾央行行长表示,亚洲必须防范另一场金融危机。

Central Bank of the Philippines Governor Eli Remolona Jr. speaks as he attends the "ASEAN in a Changing Global Landscape" at the IMF/World Bank 2026 Annual Meetings at Queen Sirikit National Convention Center (QSNCC) in Bangkok, Thailand, October 14, 2026. REUTERS/Patipat Janthong

BANGKOK: Asian countries must remind themselves about what happened during the region's financial crisis in the late 1990s and guard against a recurrence of such shocks, the head of the Philippine central bank said on Wednesday.

Before the Asian financial crisis started in 1997, regional economies saw huge capital inflows that prompted the World Bank to describe it as the "East Asian miracle," Eli Remolona, governor of the Bangko Sentral ng Philippines, said in an IMF panel on the outlook for the Association of Southeast Asian Nations (ASEAN).

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