THE Makati Business Club (MBC) on Tuesday expressed support for the term extension of Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr.
“The MBC recognizes the outstanding work of Amando Tetangco Jr. as BSP governor since 2005. Under his leadership, the BSP has been effectively executing and fulfilling its mandate of keeping inflation manageable, conducting sound monetary policy, and supervising financial institutions under its jurisdiction,” the MBC stated.
This has significantly cushioned the country from external shocks and has largely insulated us from the adverse effects of the recent global and regional financial crises, it said.
The BSP has consistently ranked first in the MBC Executive Outlook Survey, an annual survey conducted to determine its members’ perception on the performance of Philippine government agencies, and the net satisfaction score of the institution has been remarkably high since Tetangco took office in 2005., the statement said.
“With this, we fully support the President’s wish to appoint Mr. Tetangco for a third term and we join him in urging our lawmakers of the 17th Congress to amend Section 6 of the New Central Bank Act of 1993 which limits the BSP governor’s term to one reappointment. We are confident that under Mr. Tetangco’s watch, the BSP will continue to serve its mandate towards the continued wellbeing of our country’s economy,” the MBC said.