Philip­pine gover­nor Espe­nilla dies

Banking Frontiers - - Regulator -

The gover­nor of The Bangko Sen­tral ng Pilip­inas (BSP) Nestor Espe­nilla died fighting can­cer. He was 60. Espe­nilla, a vet­eran on more than 3 decades at the cen­tral bank when he took over as gover­nor in July 2017, is cred­ited for lead­ing a move to dig­i­tize re­tail pay­ments to broaden fi­nan­cial in­clu­siv­ity. He was di­ag­nosed with tongue can­cer in late 2017 and was on leave in­ter­mit­tently last year. The BSP Mone­tary Board named deputy gover­nor Al­masara Cyd Tuano-Amador as the in­terim of­fi­cerin-charge, un­til Pres­i­dent Rodrigo Duterte names his own care­taker or ap­points a new gover­nor to com­plete the rest of Espe­nilla’s 6-year term. Espe­nilla was known for his mone­tary pol­icy clout and ex­per­tise in bank­ing su­per­vi­sion, driv­ing re­forms in the sec­tor that in­cluded im­prov­ing fi­nan­cial trans­parency and over­haul­ing mis­man­aged lenders.

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