Philippine central bank governor voices caution over plans to create US$4.9 billion sovereign fund

Felipe Medalla, in an interview with Bloomberg TV, said a key concern for him would be how the fund would be managed and by whom, and to what extent it would affect the independence of the central bank, Bangko Sentral ng Pilipinas (BSP). - Reuters

MANILA, Dec 2 (Reuters): The Philippines' central bank governor has voiced caution over a legislative proposal to create a sovereign wealth fund overseen by President Ferdinand Marcos Jr, saying transparency over its governance would be key.

Felipe Medalla, in an interview with Bloomberg TV, said a key concern for him would be how the fund would be managed and by whom, and to what extent it would affect the independence of the central bank, Bangko Sentral ng Pilipinas (BSP).