BSP Governor Amando M. Tetangco Jr. ARNOLD ALMACEN/INQUIRER FILE PHOTO0800
Citing health issues, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. has declined to serve a third term taking charge of the country’s monetary policy.
“As far as I’m concerned, I thought Governor Tetangco’s term should be extended. But he has begged off, saying he has health issues,” Finance Secretary Carlos G. Dominguez III told reporters after the induction of the Economic Journalists Association of the Philippines’ officers for 2017 Monday night.
Dominguez said Tetangco might really need to take a break after serving the BSP for 43 years. “Even I would get tired of doing the same job,” the finance chief said.
Under the BSP charter, a governor can serve only two six-year terms. Tetangco was first appointed in 2005 by then President Arroyo and was reappointed by former President Aquino in 2011. Tetangco’s second term will end in July.
Dominguez earlier said he was convincing President Duterte to retain Tetangco in his post and be reappointed for another six-tear term, which could only be done by amending the BSP charter.
Senate President Aquilino “Koko” Pimentel III, however, said last month there would be no more time to amend the BSP charter before July.
A number of names have cropped up as possible candidates for the position, including Deputy Governors Diwa C. Guinigundo and Nestor A. Espenilla Jr., as well as former Trade Secretary and Monetary Board member Peter V. Favila, East West Banking Corp. president Antonio C. Moncupa Jr. and Foreign Affairs Secretary Perfecto R. Yasay Jr.