Duterte party recommends banker to BSP post

The ruling PDP-Laban party has endorsed the head of its think tank, veteran banker Antonio C. Moncupa Jr., to head the Bangko Sentral ng Pilipinas (BSP) when Governor Amando M. Tetangco Jr. steps down in July.

In a statement, Senate President Aquilino “Koko” Pimentel III, who is also PDP-Laban president, said Moncupa is “the most qualified among several candidates to head the monetary authority.”

“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,” Pimentel said.

He said Moncupa has all the qualities required to lead the BSP. Moncupa, being the president and chief executive of Gotianun-led East West Banking Corp., is an experienced banker and has unquestionable integrity, Pimentel added.

Moncupa is also currently the president of the PDP-Laban Research Planning and Development Institute, the party’s think tank.

The statement highlighted that Moncupa was once an activist and a political detainee.

Asked for comment, Moncupa said in a text message: “I am deeply grateful to the Senate President for his endorsement. I believe he put forward the endorsement because he knows my background, domain and academic competencies, executive capabilities and track record, and nationalist background. I think these are the reasons why he believes I can take on the job should the President so consider.”

Pimentel said PDP-Laban would soon formally endorse Moncupa to President Duterte, who chairs the party.

“President Duterte has been unrelenting in his fight against criminality. We believe that the BSP will play a critical role in this fight. We need to crack down on the finances of criminal syndicates and drug cartels, and the best way to do this is to foster a more responsive and vigilant banking industry through a reinvigorated BSP,” Pimentel said.

“Moncupa, as a veteran banker, is highly capable and knowledgeable about financial and monetary policies,” Pimentel said. —BEN O. DE VERA