BSP’s Tetangco named central banker of year by elite magazine

Rappler.com
This distinction from FT's 'The Banker' is the 3rd Tetangco has received in the last 5 months, following citations from elite publications, Global Finance and Euromoney's Emerging Markets

ASIA'S BEST. The Banker names Philippine central bank governor Amando Tetangco Jr. as Asia's best. AFP file photo

MANILA, Philippines – Bangko Sentral ng Pilipinas (BSP) governor Amando Tetangco Jr. has another feather in his cap.

Tetangco was named the Central Banker of the Year for Asia Pacific by “The Banker,” an elite publication aimed at global finance ministers, central banks, financial institutions, and owned and edited by the London-based Financial Times group.

The magazine cited the Tetangco’s contributions, including the country’s sound monetary policies, to the following achievements that have “recently pushed the Philippines into the spotlight:”

  • phenomenal 7.1% growth in the 3rd quarter of 2012 (second highest in Asia after China)
  • the credit ratings upgrades (putting the Philippines one notch away from investment grade level, like Indonesia)

Turkey’s Erdem Basci was chosen as Global Central Bank Governor of the Year. Other awardees from various central banks are: Canada’s Mark Carney for the Americas, Angola’s Jose Massano for Africa, and Saudi Arabia’s Fahad Al-Mubarak for the Middle East.

3 in 5 months

This distinction is the 3rd Tetangco has received in the last 5 months, the BSP noted in a January 10 statement.

He beat US Federal Reserve chairman Ben Bernanke in Global Finance Magazine’s ranking of the world’s 6 best central bankers. Global Finance cited Tetangco for being among those who took advantage of slowing inflation to cut benchmark interest rates to record low as part of efforts to stimulate the local economy amid a daunting spill-over from the Eurozone crisis and China slowdown.

In October 2012, Emerging Markets, an international finance magazine of the Euromoney group, gave him the distinction as the 2012 Emerging Markets Central Bank Governor of the Year for Asia for steering the country’s monetary policy “with considerable skill.”

Tetangco, a veteran central banker, is on his second term as the head of the government’s main agency that crafts the country’s monetary policies. – Rappler.com

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