THE country’s banks welcomed another global plaudit for Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr., saying that the central bank has been one of the key agencies behind the broad-based continued expansion of the country.
In a response to a query from the BusinessMirror, Bankers’ Association of the Philippines President and Rizal Commercial Banking Corp. President Lorenzo Tan said that the central bank chief deserves the recent award given to him by the international finance magazine Global Finance.
“The governor deserves all the recognitions and accolades for his success in steering the financial sector and the economy to an exemplary performance over the years,” Tan told the BusinessMirror.
“The current strength and stability of the Philippine economy can be partly, if not wholly, attributed to the governor, and we thank international institutions, like the Global Finance magazine, for their due recognition,” he added.
Tetangco was recently recognized as one of the select best central bankers in the world, garnering grade “A” from Global Finance, the highest rating given to a central banker’s performance during the period.
The Philippine central-bank governor is one of the nine central-bank governors given such recognition this year. This is Tetangco’s fifth year in a row and seventh overall grade “A” recognition from the international magazine.
For 2015, Tetangco sustained his rank as one of the best in the world—along with Czech Republic’s Miroslav Singer, European Union’s Mario Draghi, India’s Raghuram Rajan, Israel’s Karnit Flug, Malaysia’s Zeti Akhar Aziz, Paraguay’s Carlos Fernandez Valdovinos, Peru’s Julio Velarde Flores and Taiwan’s Fai-Nan Perng.
The grade “A” rating, according to Global Finance, represents an excellent performance in handling their respective central banks.
The international finance publication has given Tetangco the same recognition in 2006, 2007, 2011, 2012, 2013, 2014 and this year.
Tetangco is the only two-term governor in the country. His term ends in 2017.