Bangko Sentral probes potential fallout from POGO halt

ABS-CBN News

Posted at Aug 27 2019 02:05 PM

MANILA -- Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Tuesday he ordered a study into the potential negative effects of discontinuing offshore gaming operations in the country.

The study by the BSP's Financial Stability team and the Anti-Money Laundering Council will focus on the impact of POGOs or Philippine Offshore Gaming Operations on property and consumer businesses, Diokno said.

Diokno said he was "open minded" about the benefits of POGOs on the economy, despite the investigation.

Socieconomic Planning Secretary Ernesto Pernia said POGOs could set up shop in growth areas outside Metro Manila to help ease congestion in the capital.

China's embassy in Manila earlier urged the Philippines to crack down on crimes against its nationals who work in POGOs.

-- report from Bruce Rodriguez, ABS-CBN News