The Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) party is set to formally endorse banker Antonio Moncupa Jr. to be the next governor of the Bangko Sentral ng Pilipinas (BSP).
Senate President Aquilino Pimentel 3rd, president of the ruling PDP-Laban party, said Moncupa, who heads EastWest Bank, is the most qualified candidate to head the monetary authority.
“I believe Mr. Moncupa has all the qualities required to lead the central bank in this period of challenge and change. He is an experienced banker whose knowledge of the financial markets is matched only by his unquestionable integrity and character and passionate nationalism,” Pimentel said.
The party will make the endorsement to President Rodrigo Duterte, chairman of PDP-Laban, the Senate chief said.
Moncupa, a former activist and political detainee, heads the PDP Laban policy think-tank.
Pimentel said Moncupa is highly capable and knowledgeable about financial and monetary policies, which would allow him to manage inflation and keep the foreign exchange market stable.
“It is time for bold and innovative leadership at the BSP. It can no longer be ‘business as usual’ in government, particularly at the central bank which is the overseer of the country’s financial system,” he added.
Pimentel also said Moncupa would foster a “more responsive and vigilant banking industry through a reinvigorated BSP.”