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Explaining country’s credit rating: Sen. Loren Legarda, during Tuesday’s Development Budget Coordination Committee (DBCC) briefing with the Committee on Finance, August 13, 2024, on the proposed P6.352 trillion National Expenditure Program (NEP) for 2025, asked economic managers to enlighten legislators on the specific initiatives that the Bangko Sentral ng Pilipinas (BSP) is currently undertaking to support the road to A-Credit rating agenda. Legarda said given the present macro economic indicators as contained in briefers presented by the DBCC, it is crucial that each and every lawmaker must understand the strategies in place to maintain and build upon this positive trajectory. “I would like to understand the road to that A-Credit rating agenda. What are you doing? What are the measures that we need to do, not just budgetary-wise, but also in terms of legislation and the timeline?” Legarda asked. “We want to be enlightened because these are terms; we need the information. It's very vital for us as we deliberate on the measures that will further enhance our economic resilience and credibility in the eyes of global investors,” she added. BSP governor Eli M. Remolona Jr. said the government is aiming a higher credit rating such as AA which means lower cost of external borrowing and greater likelihood of an investment coming in. He said one of the factors on the road to A is macroeconomic stability and the BSP is playing a crucial role by managing inflation and managing the stability of the banking system. (Senate Public Relations and Information Bureau)