President Duterte must not look outside the BSP for outgoing Governor Tetangco’s replacement. The next governor of the BSP will have to juggle four troublesome issues from the moment he sits down in his new office. Both Guinigundo and Espenilla have been with the central bank since it was actually called the Central Bank, each having about 35 years’ of service. The most important attribute both Guinigundo and Espenilla have is intimate familiarity with the people of the BSP and the way the central bank works as an organization. Other names that have been floated as possible successors to Tetangco include former president Gloria Arroyo—a suggestion that Duterte rejected on Monday—and EastWest Bank president Antonio Moncupa, who apparently has the endorsement of Duterte’s PDP-Laban party.

Source: Manila Times March 15, 2017 16:30 UTC