The Philippines, through the Department of Finance (DOF) and the Bangko Sentral ng Pilipinas, 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 strengthening economic resilience across Southeast Asia. 

The AFCDM-WG convened the ASEAN Finance and Central Bank Officials to refine and advance key elements of the post-2025 ASEAN Economic Community (AEC) Strategic and Sectoral Plans under the Finance Process. The discussions focused on accelerating regional priorities, including expanding cross-border payments connectivity to enable faster, safer, and more affordable financial transactions, promoting financial health and inclusion to widen access to financial services, and capital market development and integration to support investment and sustainable economic growth. 

As co-chair, the BSP’s Managing Director Thomas Benjamin Marcelo helped steer the meeting toward concrete and actionable outcomes that will further strengthen financial cooperation and policy coordination among ASEAN economies. The initiatives discussed 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 Philippines’ Department of Finance Undersecretary Joven Z. Balbosa emphasized the importance of ASEAN financial cooperation platforms in delivering meaningful and practical results. 

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,”

PDOF Undersecretary Balbosa said. 

The Philippines aims to support practical progress on financial integration and policy coordination. We want concrete outcomes that improve access to finance, encourage investment, and strengthen ASEAN’s economic resilience,”  

he added.

PDOF Undersecretary Balbosa underscored that the country remains committed to ensuring that regional cooperation translates into tangible benefits for businesses, investors, and citizens across ASEAN. 

Our goal is simple: to ensure these meetings deliver real benefits for ASEAN citizens,”

he said. 

The outcomes of the meeting will be elevated to the upcoming ASEAN Finance and Central Bank Deputies’ and Governors’ Meetings later this year, forming part of ASEAN’s broader efforts to build a more integrated, inclusive, and resilient economic community that supports long-term growth and shared prosperity in the region.