CONTINUITY in the leadership and policy decisions of outgoing central bank Gov. Amando Tetangco Jr. is what a Cebu-based bank official wants from the next Bangko Sentral ng Pilipinas (BSP) chief.
“I personally prefer that the next governor would come from the BSP’s ranks. (Deputy Gov. Diwa) Guinigundo or (Deputy Gov. Nestor) Espenilla could provide us withy continuity. They were with Governor Tetangco in bringing BSP to where it is today,” said Cebu Bankers’ Club past president Maximo Rey Eleccion.
Other reported contenders, apart from the two deputy governors, are East West Banking Corp. President and CEO Antonio Moncupa Jr. and former Monetary Board member and ex-trade secretary Peter Favila.
The name of Foreign Affairs Secretary Perfecto Yasay Jr., a former head of the Securities and Exchange Commission, was also floated as a possible candidate.
“Governor Tetangco is a world-class central banker who was awarded numerous times by different finance magazines all over the world. He was responsible for many financial reforms that propelled stability and investor confidence in our country. He will be leaving with very big shoes to fill,” added Eleccion in a text message.
The 64-year-old BSP governor is already on his third term. He was first appointed by President Gloria Arroyo in 2005 and reappointed in 2011 by President Benigno Aquino III.
In November last year, President Rodrigo Duterte selected him to serve another term.
Tetangco has been named as one of the world’s best central bankers, having received an “A” grade from Global Finance magazine’s Central Banker Report Cards 2016 for the eighth time.