San Rafael, Lempira San Rafael, Lempira San Rafael is a municipality in the Honduran department of Lempira. It is one of the farthest municipalities of the Lempira department of Honduras. The best way to get to the municipality capital is via Santa Bárbara department, passing by El Nispero and San Jeronimo municipalities of this department. In the census of 1887 it appears with the name of "El Conal" village, of La Iguala municipality, and until 17 July 1900 it was granted the category of municipality, in the administration of President Terencio Sierra. To get to the municipality capital it is necessary to go
Monetary policy of the Philippines including interest bearing notes and future fiscal surpluses that matter for price-level determination. In the absence of fiscal discipline, an independent central bank such as the BSP cannot guarantee a stable nominal anchor. In other words, for the BSP to successfully focus on price stability, there must be a credible commitment on the part of the National Government to reduce total fiscal deficits by a meaningful amount. Monetary policy of the Philippines Monetary policy is the monitoring and control of money supply by a central bank, such as the Federal Reserve Board in the United States of America, and the