The Presidential Communications Office (PCO) has dismissed former President Rodrigo Duterte’s claim that President Ferdinand Marcos Jr. was involved in the Bangko Sentral ng Pilipinas (BSP) gold sales, calling it a “campaign joke.”
In a Palace briefing, Undersecretary Claire Castro explained that selling gold reserves—part of the country’s Gross International Reserves (GIR)—is a routine BSP activity to support the economy.
“Sinabi nga dito ang pagbebenta ng gold, kung mataas ang dapat ibenta,” said Castro.
She also emphasized the need to counter misinformation.
“We will take this seriously para naman hindi magkaroon ng fake news lalo na sa mga taong nakikinig sa kanya, at maaaring naniniwala,” the new PCO official added.
In a statement, the BSP clarified that the GIR is solely managed by the central bank for the country’s foreign exchange needs, and proceeds from gold sales remain within the reserves.
The BSP also assured that a portion of reserves will continue to be held in gold to protect against market fluctuations.IMT
