MANILA, Philippines — After days dominated by discussions about inflation, interest rates and the weakening peso, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. appeared to trade the pressure of economic policymaking for something considerably more relaxing: a morning on the golf course.
Remolona recently joined former Finance Secretary Cesar Purisima and his wife, Corrie Purisima, for a friendly round of golf, offering a rare glimpse of the central bank chief away from Senate hearings, policy briefings and the country’s increasingly challenging economic headlines.
The outing, shared on social media, was described as a chance to step away from the usual business discussions, recharge under the sun and enjoy good company—although, like most golfers can relate to, not every shot went exactly as planned.
The timing of the leisurely get-together comes after an especially demanding stretch for Remolona and the BSP.
Just days earlier, the central bank raised its key policy rate by 25 basis points to 5%, continuing its effort to contain inflation risks. The BSP has been navigating persistent pressure from higher energy costs, food prices and external economic developments, while the Philippine peso has also faced renewed weakness against the US dollar.
Remolona has also been vocal about the limits of defending the peso at a specific exchange rate, warning that the country cannot simply exhaust its foreign reserves to force the currency back to a preferred level. Instead, he has pointed to stronger exports and broader economic fundamentals as part of a more sustainable long-term solution.
That backdrop made the golf outing a welcome change of scenery for one of the country’s most closely watched economic officials.
For Purisima, meanwhile, the gathering brought together familiar names from the worlds of finance and policymaking. The former finance secretary remains a prominent figure in Philippine economic circles and was recently recognized by Japan with the Order of the Rising Sun, Gold and Silver Star, one of the country’s prestigious honors for distinguished contributions to strengthening international relations.
As for Remolona, the brief escape from boardrooms and budget hearings offered a reminder that even central bankers occasionally need to put down the spreadsheets, step away from the exchange-rate charts and focus on a different kind of scorecard.
And judging by the smiles from the fairway, this may have been one round where the final score mattered a little less than the company.
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