Tetangco feels ‘honored’ to be considered for 3rd term


Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. neither confirmed nor denied reports that President Rodrigo Duterte has offered him another term as central bank head, or if he is ready to accept such an offer, but said he is honored to be considered for a term extension.

“Well, it is really an honor to get that offer for the third term and I share this honor with the officers and staff of the BSP,” he told reporters on the sidelines of the Security Bank Economic Forum 2016 held in Makati City on Wednesday.

Earlier, the Department of Finance said President Duterte wanted Tetangco to stay in the BSP for another six years and would ask the Congress to amend the law to allow that extension.

Tetangco explained that under the BSP Charter, the central bank governor is only allowed one reappointment, which he had in 2011.

“I was first appointed in 2005 and reappointed in 2011,” he recalled.

“Congress is now deliberating on amendments to the BSP Charter so they are still in that process and I don’t want to preempt our legislators,” he added.

Above all this, he stressed that the BSP over the years has been able to develop itself into a world class monetary authority that is able to deliver its mandate of maintaining price and financial stability at the same time, allowing banks to support economic growth.

“I think this is going to continue. So whoever is appointed as next governor will have the support of a committed, competent staff of the BSP, and I can say that for all our people in the BSP,” he said.

Asked if he would accept the offer if changes were made to the BSP Charter that would allow a third or possibly fourth term for a central bank governor, he said, “Let us cross the bridge when we get there.”


Please follow our commenting guidelines.

Comments are closed.