‘Central bank not serving politics’ –deputy gov

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A central bank deputy governor has stressed that the Bangko Sentral ng Pilipinas (BSP) does not politics and is an independent agency, after President Rodrigo Duterte called for the resignation of top BSP and the Anti-Money Laundering Council (AMLC) officials.

BSP Deputy Governor Diwa Guinigundo photo by rene dilan

BSP Deputy Governor Diwa Guinigundo
photo by rene dilan

“One thing we know, we are not serving politics. The BSP remains an independent agency,” BSP Deputy Governor Diwa Guinigundo told reporters late Thursday.

Guinigundo clarified that his statement should not be taken as a direct contradiction of President Rodrigo
Duterte’s claim on Thursday that the BSP and AMLC were playing politics and hampering the government’s anti-corruption efforts.

“We are not the AMLC…Maybe the President connects BSP with AMLC, because it is based at BSP Complex, then the chairman is the BSP governor. Its an independent body,” Guinigundo added.


On Thursday, Duterte described the BSP and AMLC officials as a bunch of crooks who were still “hungry” for money despite their fat salaries.

“I’m going to charge all of you there, criminally. I’ll count one to three, and if you don’t resign, I will treat you as a drug addicts,” he said.

“You guys there are all corrupt, bantay kayo sa akin [I’ll keep an eye on you]. I will bring you down. [BSP Governor Amando Tetangco Jr.] is about to retire. Better prepare there because I’ll give you a whack. You are all, you are all corrupt and serving [a]master. You are not supposed to engage in politics, God damn it,” the President said.

The Department of Justice (DOJ) has been requesting from the AMLC documents for its investigation into drug-related transactions involving Sen. Leila de Lima, who is accused of getting protection money from drug syndicates in the New Bilibid Prison.

Justice Secretary Vitaliano Aguirre 2nd has complained that while the DOJ had received documents from AMLC, these were incomplete.

In contrast, bank records of personalities targeted by the previous Aquino administration—the late chief justice Renato Corona and former vice president Jejomar Binay—had been leaked to the media.

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5 Comments

  1. So, “engaging” and “playing” politics are different words, but connotes the same. Or the Oligarchs are your boss. Then (I still give you the benefit of doubt), explained why you leak in the media Ex VP Binay and SC Justice Corona. Did the Pnoy administration asked you to do, then it should be the same with the current administration. You are words then the drug lords/addicts/pusher–your are hoodlum in suit.

  2. “We are not the AMLC…Maybe the President connects BSP with AMLC, because it is based at BSP Complex
    ——————————————

    Wouldn’t not be surprised.

    The AMLC on the other hand violated the law when they disclosed Chief Justice Corona’s financial information and even then Ombudman Morales lied about the amounts.

  3. Then why not respond promptly when a criminal investigation is being conducted?

    Does being an independent body exempt the BSP from being answerable to the demand of the people to clean up the government, pursue and prosecute white collar criminals?

    Does being an independent body allow the BSP, or any government body to ignore or obstruct justice?

    Even if you are an independent body it is still a government job, the people is still paying you, or maybe the official salary is just a speck, compared to your take from your partners in something else!

    You are answerable, possible criminally liable for what you have done, just by ignoring delaying, much more for hiding and active participation in the conduct of criminal activities – big time criminal activities.

  4. Yes, that’s correct. The Central Bank does not serve Philippine politics. It’s only master is the Bank for International Settlements in Switzerland which dictates Central Bank policies around the world aimed to perpetually enslave countries in debt. This is why the Central Bank charter forbids the Central Bank of the Philippines to engage in development financing. Anytime we want to build a road, bridge or any infrastructure, we have to go to foreign lenders instead of to the Central Bank which can issue the currency we need. Central Bank officials are all puppets of the global Money Power. This is what they are not telling the public. So go ahead, Pres. Duterte, do our people a favor and treat them all like drug addicts and put them on the list of EJK victims.