Tetangco says announcement of next BSP chief better if done early

MANILA - Bangko Sentral ng Pilipinas (BSP) governor Amando Tetangco Jr. favors the early announcement of his successor.

“I think the name of the successor should be announced as early as possible,” he told reporters at the sidelines of the Management Association of the Philippines (MAP) economic briefing and general membership meeting in Makati Shangri La Tuesday.

“The earlier (the name of the incoming BSP Governor is announced), the better,” he said.

Vetting of the candidates for the BSP governor position are on-going, he said.

Among the names that have come up as next BSP chief are current BSP deputy governors Diwa Guinigundo and Nestor Espenilla Jr., East West Bank president and CEO Antonio Moncupa Jr. and former trade secretary Peter Favila.

Tetangco earlier said the next BSP chief should have a good understanding of job, patience and knowledge of how to work with the central bank.

Under the New Central Bank Act, the term of a BSP governor may only be extended once.

Tetangco was first appointed as BSP governor under the term of former President Gloria Macapagal-Arroyo in 2005 and was re- appointed by former President Benigno Aquino III in 2010.

President Rodrigo Duterte earlier said he favors a third term for the BSP governor position.