Finance minister Margarito Teves on reducing debt and raising revenues

Margarito Teves, secretary of the Department of Finance of the PhilippinesMargarito Teves, secretary of the Department of Finance of the Philippines

The Philippines' finance minister says that the archipelago's economy has remained relatively resilient during the downturn compared with its export-dependent neighbours. But the budget deficit remains an ongoing problem. Writer Michelle Price

Nestor Tan

Nestor Tan, president of Banco de OroNestor Tan, president of Banco de Oro

As one of the Philippines' most dynamic bankers, Nestor Tan has overseen a series of acquisitions and mergers that have transformed Banco de Oro into the largest bank in the country by assets. Now he is eager for further growth by capitalising on opportunities presented by the recession. Writer Michelle Price

Filipino banks advance with care

Sending profits home: remittances account for 10% of the Philippines' gross domestic productSending profits home: remittances account for 10% of the Philippines' gross domestic product

The Philippines has managed to all but sidestep the global economic slump and its banking sector is in good shape, but broader structural changes in the Filipino economy will bring new challenges. Writer Michelle Price

Amando Tetangco

Amado Tetangco, governor of Bangko Sentral ng PilipinasAmando Tetangco, governor of Bangko Sentral Ng Pilipinas

The governor of Bangko Sentral Ng Pilipinas talks about how the central bank took swift and effective action to ensure that the Philippines was not badly hit by the credit crunch. But he warns that exiting a liberal monetary policy stance may bring its own risks. Writer Michelle Price

Amando Tetangco

Amando Tetangco, Bangko Sentral ng Pilipinas (BSP)

Despite the international credit crunch, banks in the Philippines grew lending by 24% in the first half of 2008 and asset quality continues to improve, says the Bangko Sentral ng Pilipinas (BSP) governor. Writer Ian Gill.

Margarito Teves

Margarito Teves, the Philippines finance secretary

The impact of the international slowdown on the Philippines economy has been more severe than expected, but revenue collections are on track and overseas remittances remain strong, says the Philippines finance secretary. Writer Ian Gill.

Sibling rivalry

The Tan brothers, Nestor and Lorenzo, are helping to reshape the Philippines’ banking industry. Ian Gill reports on how their international expertise is helping to break the shackles of traditional financial empires.