MANILA — The Philippines, through the Department of Finance (DOF) and the Bangko Sentral ng Pilipinas (BSP), co-chaired the ASEAN Finance and Central Bank Deputies’ Meeting – Working Group (AFCDM-WG) on February 13, 2026, in Panglao, Bohol, reinforcing its leadership role in advancing financial integration and economic resilience across Southeast Asia.

DOF Undersecretary Joven Z. Balbosa said the Philippines aims to ensure the meeting delivers tangible benefits for ASEAN citizens.

“Our goal is simple: to ensure these meetings deliver real benefits for ASEAN citizens,” Balbosa said, noting the country’s commitment to translating regional cooperation into practical outcomes for businesses, investors, and the public.

The AFCDM-WG convened officials from ASEAN finance ministries and central banks to refine and advance elements of the post-2025 ASEAN Economic Community (AEC) Strategic and Sectoral Plans. Discussions focused on accelerating regional priorities, including:

• Expanding cross-border payments connectivity for faster, safer, and more affordable transactions.
• Promoting financial health and inclusion to widen access to financial services.
• Capital market development and integration to support investment and sustainable economic growth.

As co-chair, BSP Managing Director Thomas Benjamin Marcelo helped guide discussions toward actionable outcomes that will strengthen financial cooperation and policy coordination among ASEAN economies.

Balbosa emphasized that the initiatives are expected to contribute to a more integrated financial system, improve access to finance, and enhance the region’s capacity to withstand economic and financial shocks.

“The ASEAN Finance and Central Bank Deputies’ Meeting – Working Group and the Working Committee on Financial Services Liberalization are key ASEAN platforms for financial cooperation,” Balbosa said.

The outcomes of the AFCDM-WG will be elevated to the ASEAN Finance and Central Bank Deputies’ and Governors’ Meetings later this year, as part of the bloc’s broader efforts to build a more integrated, inclusive, and resilient economic community.