Business Groups honors outgoing BSP Governor Amando Tetangco Jr.

24 May 2017 – “Value independence and integrity, because these are the foundations for credibility that in turn engenders effectiveness and purpose.” This is what Bangko Sentral ng Pilipinas (BSP) Governor Amando “Say” Tetangco Jr. considers as the foremost important lesson he learned from BSP which he shared before the business community at the joint testimonial luncheon organized in his honor. The BSP Governor, who will officially step down from post on July 2nd, shared that his over four-decade career in BSP, and being a civil servant for the country, was both an honor and a privilege for him. In his testimonial, MBC Chairman Edgar Chua attributes BSP’s effective execution and fulfillment of its mandate of keeping inflation manageable, conducting sound monetary policy, and supervising financial institutions to Governor Tetangco’s effective leadership and exemplary performance. Mr. Chua also noted that under Governor Tetangco’s watch, BSP has consistently ranked first in the MBC Executive Outlook Survey, an annual survey of members’ perception on the performance of Philippine government agencies. Meanwhile, in his introduction of Governor Tetangco, monetary board member Val Araneta noted that it was not out of sheer luck that the Philippines came out unscathed from the various external shocks and financial crises that hit the region, and posits that sound monetary policies and banking regulations of the outgoing Governor played a primary role. The Makati Business Club, together with the Financial Executives Institute of the Philippines, CIBI Foundation, American Chamber of Commerce, European Chamber of Commerce of the Philippines, Management Association of the Philippines, and the Philippine Chamber of Commerce co-organized the special testimonial luncheon for the outgoing BSP governor held at the New World Hotel, Makati City. xxx