Philippine Central Bank chief calls for alternative to SWIFT

Philippine Central Bank Governor Felipe Medalla told Sputnik that there should be an alternative to existing Society for Worldwide Interbank Financial Telecommunication (SWIFT).

"There has to be an alternative to SWIFT. Right now it's not there," Medalla said on Tuesday.

In June 2022, a number of Russian banks, including Sberbank and VTB, were disconnected from SWIFT after Russia launched its special military operation in Ukraine.