Tetangco among top central bankers
Global Finance has named Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. as one of the world’s top central bankers for the third year in a row.
In a statement released Friday, Tetangco, one of the country’s top economic managers, was named one of the “world’s best central bankers” after earning a grade of “A” in Global Finance’s 2013 Central Bank Report Cards publication.
“As developed economies begin the gradual route to recovery and some of the largest emerging markets continue to slow, the world’s central bankers face a challenging time in managing monetary policy to positively influence economic stability and growth,” Global Finance said.
Global Finance has been grading central bank chiefs since 1994. Tetangco has earned a grade of “A” for five of his eight years as BSP head. He first earned the distinction in 2006 and repeated his achievement the year after.
He also earned the top grade in 2011 and 2012. Tetangco is the first BSP governor to have been appointed two consecutive terms.
Having risen through the ranks, Tetangco was named by former President Gloria Arroyo as governor in 2005. Tetangco is on his second term, which ends in 2017, after being reappointed by President Aquino in 2011.
“Every year, we assess the determination of central bankers to stand up to political interference and their efforts at influencing their governments on such issues as spending and economic openness to foreign investment and financial services,” Global Finance said.
Other central bankers that received the grade of “A” this year were Zeti Akhtar Aziz of Malaysia and Fai-Nan-Perng of Taiwan. Both were also named among the world’s top central bankers in 2012.
One notch below the top performers were Chile’s Rodrigo Vergara and the European Union’s Mario Draghi, who both received a grade of “A-.”