- How about we look for a person like Amando Tetangco, Jr. , a first class governor?
The BSP has as its charter managing inflation and contributing to the stability and fundamentals of a strong economy. It is a technical job.
We should look for someone who stands apart from politics for this job. Managing the nation's financial dials and knobs is rather like working the gas pedal of a car, not something to be messed with for flighty political gain.
- BSP Governor Tetangco has worked effectively under both President Arroyo and President Aquino. His eyes are focused on the financial ball, not the political game-playing.
Second, we should look for someone who knows the workings of the BSP inside out, who understands the economic and financial underpinnings of a complex nation, and who can lead and direct monetary policy and keep banks strong and solvent.
- Governor Tetangco has been with the Central Bank since 1974 and has held a variety of increasingly responsible technical and management positions within the organization. Before being appointed head of BSP, he was Deputy Governor and chief regulator of banks. Philippine banks are healthy and growing well, a sound financial foundation for the nation.
The Philippine economy is broad but thin. A little fragile and underpowered. The nation cannot afford a gambler or loose technical head of BSP. It requires discipline.
- Global Finance Magazine gives Mr. Tetangco an "A" grade. He is one of six top central bankers to receive the A grade in 2012. Other "A" grades were assigned to Australia, Canada, Israel, Malaysia, and Taiwan. Mr. Bernake of the United States got a "B". Mr. Tetangco also received the "A" grade in 2006, 2007 and 2011.
The Philippine economy is more stable than most, if we simply go by the record. Growth is good, inflation is modest, unemployment is within reason and investors are pouring money into the nation; stocks are roaring and debt ratings are improving. Debt will be investment grade next year in all likelihood.
I looked for dirt on Mr. Tetangco, for criticism and condemnation. For scandals.
I came up empty.
He is an economist and professional banker. He is not a politician, not a fame-seeker, not a showman.
Mr. Tetangco is a rock of stability and capability, a First Class Filipino helping to build a First Class Philippines.
Amando Tetangco, Jr. assumed office as Governor of the Bangko Sentral ng Pilipinas starting July 2005. He served two presidents - Gloria Macapagal Arroyo and Benigno Aquino III. He is a career central banker, occupying different positions in the organization in a span of over three decades. Immediately prior to his appointment as BSP Governor, he was Deputy Governor in-charge of the Banking Services Sector, Economic Research and Treasury.
As BSP Governor, he is also the Chairman of the Monetary Board, Anti-Money Laundering Council (AMLC) and Philippine International Convention Center (PICC); Vice-Chairman of the Agriculture Credit Policy Council (ACPC); Member of the Capital Market Development Council (CMDC), Export Development Council (EDC), PhilExport Board of Trustees (PHILEXPORT), Philippine Export-Import Credit Agency (PHILEXIM); and Director of Philippine Deposit Insurance Corporation (PDIC), National Development Council (NDC) and National Home Mortgage Finance Corporation (NHMFC).
He also represents the country in various international and regional organizations, including the Executive Meeting of East Asia and Pacific (EMEAP) Central Banks; ASEAN and ASEAN+3; South East Asia Central Banks (SEACEN); South East Asia, New Zealand and Australia (SEANZA); Center for Latin American Monetary Studies (CEMLA); and Asia-Pacific Economic Cooperation (APEC). He is the Governor for the Philippines in the International Monetary Fund (IMF) and the Alternate Governor in the World Bank (WB) and in the Asian Development Bank (ADB).
Before joining the Central Bank of the Philippines in 1974, Mr. Tetangco was connected with the Management Services Division of accounting firm SGV & Co.
Mr. Tetangco took up AB Economics at the Ateneo de Manila University where he graduated cum laude. He took up graduate courses in business administration in the same institution. As a central bank scholar, Mr. Tetangco took up his MA in Public Policy and Administration (concentration in Development Economics) at the University of Wisconsin in Madison, USA. Earlier, he finished his elementary and high school education at Don Bosco Academy in Pampanga.
Mr. Tetangco is married to Elvira Ma. Plana. They have three children: a son and two daughters.