An Assessment on the Planning Management and Policy-Making and Implementation of the Central Bank of the Function of Serving the National Interest

Abstract

The Philippine economy is still suffering from an economic slump. Due to high budget deficit and devaluation of the peso, more and more Filipinos are unemployed and living in poverty. To combat such dilemma, the Central Bank of the Philippines is vested to supervise the Philippine Financial System. Through sound policies and effective implementation that aims to deliver a high quality of life for all Filipinos and a balanced and sustainable growth to the economy they could greatly improve the country's plight. However, with its 54 years and still continuing service, a lot of policies were made that purports to serve the interest of the rich local and foreign capitalists. Through in depth assessment and research of their policies and programs, the Central Bank failed to meet its mission in serving the national interest of the Filipino people.