Economist downplays worries over BSP gold sales | ANC

Market Edge: MANILA -- An economist on Wednesday said gold makes up less than 10 percent of the Philippines' gross international reserves after reports came out that the Philippines was the largest seller of gold in the first half of 2023.

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[imakinsb]

Hmmmm have an eye like eagle make sure it will benefit the Philippines and its people and not the corrupt

[roycia]

We never learn from history that's why this ... Corruption never stops ! 😔

[markanthonyatamosa]

We are selling gold for what? Other countries are buying gold. We are bragging that we are the fastest economy in the world and why are we selling?

[lydiamadrid]

The Sales of Philippine 25 tons of reserved gold recently should be disclosed to the public. Where will it go? Is it additional funds for GAA 2025 Budget and political funds for the coming midterm election?

[allanyao]

The whole world is buying Gold while PH is selling 😮

[treborvideos]

not a problem malaki pala ang palitan ng gold these will help our country recover from pandemic to boost our economy ❤️❤️

[ZoraidaIcalina-kl]

bakit wlang nag reklamo?? panay cover nila yung EJK and POGO

[palahubog_palaigit]

"They are rushing to sell gold, even though it hasn't reached its peak all-time high, because 25 tons of gold is a massive amount. The government should be aware of the risks this poses to its reserves."

[jayjayjay]

Before giving negative comments about this topic, research po muna tayo. Especially as mga taong nagsasabing magagamit ito sa election. Nope hindi po. Ang BSP o Bangko Sentral ng Pilipinas ay may fiscal and administrative powers and autonomy from the National Government. Meaning independent po sila. Yes, they are "still" part ng government but most of their powers are above of that. Kahit magpalit palit man ang presidente ng Pilipinas, BSP will still run based on their mandates. Regarding sa decisyon ng BSP to sell Gold reserves ay hindi parte ang administration dito because they are independent.

Nagbenta ng gold reserves because ATH (all time high) ang prices nila. Meaning kikita ang BSP. Yung napagbentahan will possible be put sa foreign reserves natin which are commonly used para madepensahan ang Philippine Pesos against international inflations or other foreign currencies. Regarding namn sa pambayad ng utang, nope hindi rin po magagamit dun. Yung mga interests (galing sa investments ng BSP) ang ginagamit dito.

Incase of the worries naman about corruption, worry not dahil ang BSP ay pinapatakbo ng overqualified and educated people (d katulad ng mga binoboto nyo). Check their annual salary. Sa sobrang taas (ibang salary grade ang ginagamit sa kanila when compares sa pangkaraniwang SG ng government employees) hindi sila matetempt na magnakaw or magcorrupt.

Sa magsasabi kung bakit mataas ang salary nila (ACTUALLY MABABA PA PO YAN WHEN COMPARED SA SALARIES NG PRIVATE COMPANIES AND FOREIGN COUNTERPARTS AND BASED ON THEIR OVERQUALIFIED SKILLSETS AND QUALIFICATION), ang answer po jan ay look po on how they works. BSP is the backbone ng economy ng Pilipinas without them bagsak po ang ekonomiya natin. They successfully defend our economy nung panahon ng pandemic (kung saan bagsak talaga dahil jan sa former president). Kung wala ang BSP we are either a Venezuela 2.0 or a Lebanese Pound 2.0

Criticizing is not bad pero sana before we do that alamin po muna natin. Do research po. Ang daming complaints about this issue sa BSP (ng hindi alam ang nangyayari) pero hindi namn po tayo makaboto ng tama (talking about doon sa Bato at Padilla na puro mukbang sa senado ang alam) ang lalaki po ng mga sahod ng mga yan (outside of public papers syempre).

Yun lang. Do study and research po. Thanks.

[roygbiv]

Nangutang tapos haisssst ano susunod...kakabahala na

[jamesjavellana]

Very wrong decision to sell your gold while other countries are buying more. Individuals should buy gold for what may happen in the near future.

[RockyCastaneda]

Selling your reserves would only mean one thing. They do not have any outher source of income.

[ChristopherLosabio-kb]

Malapit na election kailangan ng pundo kawawang bayan ni Juan.😂

[ElAguilasilut]

Crazy, the peso will lose value when you sell the gold. Biased media

[DannyPardo-mwkl]

SAN GAGAMITIN ANG 100BILLION NA MAPAG BIBINTAHAN NG GOLD RESERVED NG BANKO SENTRAL???😢😢😢😮

[jerielcalica]

While some nations are hoarding gold due to political and economic uncertainties we are selling

[RockyCastaneda]

Reserves are for reserves. Philippines has no other source of income?

[louistan]

Of course, the downplay. There was no need to sell, but the gold was sold anyway. At a low price compared to current. When major countries and ASEAN except the US and the West are buying huge amounts of gold, why was the sale necessary? The BSP needs to open up on the reason behind the unnecessary sale.

[avatarairbinder]

Ang nakatawa dito while world countries boosting its gold reserve ito tayo nappkawala ng gold😅😅may saltik yata sa utak ang BSP😅😅

[Captain_Jack_Sparrowt]

gold is not suppose for trading but for worst case scenario happen in the philippines.kapag lumiit ang gold reserve. wala nang gaanung magpapahiram sa atin ng pera dahil ang gold is a collateral.yun ang sabi ng expert.