Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. is not closing the door to serving as the head of the Monetary Board and bank regulator for the third term.
President Rodrigo Duterte was considering amending existing laws, particularly the BSP charter to extend the term of Tetangco for another six years, according to previous reports.
Finance Secretary Carlos Dominguez confirmed a report he was authorized by Duterte to ask Tetangco to stay once his second term ended in July 2017.
Tetangco said at the sidelines of the Security Bank Economic Forum 2016 at Fairmont Makati that it was an honor to get the offer for a third term.
“But under the BSP charter, the governor is allowed only one reappointment and I have that in 2011. I was first appointed in 2005 and reappointed in 2011, “ he said.
“The Congress is now deliberating on the amendments to the BSP charter. So it is still in the process and I don’t want to preempt the legislators,” he said.
He said the BSP”•created in 1993 as an independent entity that replaced the old Central Bank of the Philippines”•has over the years been able to develop itself into a world-class monetary authority and was able to deliver on its mandate of maintaining price and financial stability in the country.
“I think this is going to continue and whoever is appointed as the next governor, he will have the support of a committed and competent team of the BSP and all our people in the BSP,” Tetangco said.
Tetangco did not answer directly if he would accept or deny a third term if an offer was presented to him.
“As I said, I don’t want to preempt the legislation… Let us cross the bridge when we get there…,” Tetangco said.
Tetangco was awarded by the New York-based Global Finance Magazine as one of the world’s top central bankers.