BIZ BUZZ: BSP welcomes new treasury chief
Career central banker Edna Villa is returning to the treasury department of the Bangko Sentral ng Pilipinas (BSP), this time to be its new chief. The changing of the guard looms as long-time treasury head Ramona Santiago is retiring this month after 25 years at the helm of this influential unit.
Villa is no stranger to this post, as this had been her bailiwick before being handpicked by BSP Governor Amando Tetangco Jr. to serve as his chief of staff.
The incoming treasury chief is an expert in currency management, currency integrity, payment system oversight, payment system development, external debt management, foreign exchange (FX) regulations, international relations, FX reserve management and FX and monetary policy implementation through market operations.
Villa holds a PhD in Economics from George Washington University (GWU) and bagged the Hsieh Prize in 1994 as GWU’s Economics Department Best Graduate Teaching Assistant. She also holds an MBA (with distinction) as well as a BS Statistics degree (cum laude) from the University of the Philippines.
As the new treasury chief, she will work closely with BSP chief Eli Remolona Jr. and her new role has become even more crucial with the upcoming implementation of a new mechanism to temper excessive peso-dollar intervention and conserve the country’s international reserves. —Doris Dumlao-Abadilla
Changes in SBMA leadership imminent?
What is this we hear that a new person is being eyed to replace Jonathan Tan—whom President Marcos appointed less than a year ago in April 2023—as chief executive of the Subic Bay Metropolitan Authority (SBMA)?
While it is true that presidential appointees serve at the pleasure of the President, it is quite another issue if a rumored candidate in the running to replace the incumbent is allegedly of, shall we say, questionable character and moral fitness to handle the important post.
Those in the know tell Biz Buzz that this individual who is more than eager to take over SBMA has massive personal and business interests tied to the agency.
As such, this supposed replacement will have everything to gain if the power grab comes to pass.
What’s worse is that this rumored candidate is suspected of smuggling, falsification of documents and violations of the Tariff and Customs Code—not exactly the type of curriculum vitae a potential leader of a vital agency should have.
Given this, will the rumored changing of the guard still push through? Abangan! —Tina Arceo-Dumlao
No extension needed, after all
When there were calls to extend the bid submission deadline for the P170.6-billion Ninoy Aquino International Airport rehabilitation project, the Department of Transportation (DOTr) did not budge. Some might think this was because of the project’s urgency but it may also be due to another reason: it would not make a difference.
Transport Secretary Jaime Bautista told reporters they were able to gauge the level of interest of the eight parties who bought bid documents during their meetings.
“Siguro di na sila magsasubmit kasi yung tanong nila hindi in-depth questions (Maybe they won’t submit anymore because they were not asking in-depth questions),” he said last week.
As such, extending the deadline by a month from the original Dec. 27, 2023 schedule was not seen as a necessity.
The DOTr eventually received four proposals. The winner will be named next month.
Now, the question is: Who will bag the highly coveted contract to take over the operations and maintenance of the country’s main international gateway? Let’s see! —Tyrone Jasper C. Piad INQ
