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BSP links up with PhilSA to use space data for financial risk monitoring
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Newsbytes.PH
Under the partnership, space-derived information will be used to assess disaster impacts, evaluate environmental threats, and analyze their potential effects on inflation, financial stability, and economic resilience.
Perez said the collaboration highlights the shared responsibility of the space and financial sectors in promoting national stability.
As part of the agreement, PhilSA and BSP will jointly develop data systems that combine geospatial, climate, environmental, and socio-economic information into actionable financial intelligence.
PhilSA will also provide technical expertise and standardized space-derived data to help BSP assess environmental hazards and their possible economic impacts, which will eventually be integrated into the central bank’s systems.
The MOA signing was attended by PhilSA deputy director general Denis F. Villorente and BSP Sustainability Office director Ellen Joyce L. Suficiencia.