Former presidential spokesman Ignacio Bunye has resigned as member of the Monetary Board (MB), the policy-making body of the Bangko Sentral ng Pilipinas (BSP).
Bunye cited the health condition of his wife in his letter of resignation. The MB member’s resignation takes effect on February 16, five months ahead of his six-year term expiring on July 2.
Bunye has been a member of the Monetary Board since July 3, 2008. Prior to his appointment as Monetary Board member, he previously served as the Press Secretary, acting Executive Secretary under former President Gloria Macapagal-Arroyo. He also served as representative and mayor of Muntinlupa City.
The Monetary Board exercises the powers and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system. Its chairman is the BSP Governor, with five full-time members from the private sector and one member from the Cabinet.
Besides Bunye, current members of the MB include Finance Secretary Cesar Purisima, Alfredo Antonio, former Trade Secretary Peter Favila, former Socioeconomic Planning Secretary Felipe Medalla and former BSP Deputy Governor Armando Suratos.