Palace searches for new BSP governor

By Genalyn Kabiling

President Duterte will be looking for a new Bangko Sentral ng Pilipinas (BSP) governor who has integrity and competence, Malacañang said Tuesday.

A logo of the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) is seen at their headquarters in Manila,.
(REUTERS/Romeo Ranoco / MANILA BULLETIN)

Presidential Spokesman Salvador Panelo said they also expect the next BSP governor to continue the reforms pursued by the late Nestor Espenilla Jr. in the country’s banking system.

Espenilla, appointed as Central Bank chief in 2017, passed away last Saturday after a battle with cancer. He was 60.

“He (President Duterte) will look for a replacement. We don’t know yet who will it be,” Panelo said during a Palace press briefing.

“Dalawa lang naman lagi niyang sinasabi — integrity and competence,” he said when asked about the qualifications the President was looking for in the next head of the BSP.

He said it was up to the President if he would choose a career central banker to take the place of Espenilla. “That’s the judgment call of the President, it’s his prerogative,” he said.

Asked about the expectations from the next BSP chief, Panelo said: “I suppose it’s the same, it’s the continuity of the work done by the previous governor.”

Malacañang earlier said it was saddened by the demise of Espenilla, and extended condolences to his family and friends. The Palace was also grateful for Espenilla who was in charge of disciplining banks “for his complete devotion to his work and great service to the nation,” Panelo said.