BSP: Monetary Board can still do 'most duties'

THE Monetary Board will still be able to perform its functions despite a "ghost" employee scandal that could lead to the departure of two members, the Bangko Sentral ng Pilipinas (BSP) said.

The central bank's seven-member policymaking body has been hit by controversy following reports that two officials had hired employees who were being paid but not doing any work. An investigation has resulted in the resignations of four individuals and disciplinary proceedings are ongoing.