Aquino to reappoint Tetangco as BSP governor

Amando Tetangco Jr. will continue to hold his post as the governor of Bangko Sentral ng Pilipinas (BSP) for another six years starting July, President Benigno Aquino III said Thursday. Aquino said Tetangco has accepted his offer to remain as the central bank governor when his term expires sometime in July. Tetangco has served as the central bank's governor since 2005. Tetangco's reappointment ensures him to continue serving as the BSP governor until 2017. Aquino pointed out that his administration deserves continuity of fiscal policies at the Philippine central bank. Presidential spokesman Edwin Lacierda said Tetangco met with Aquino and Finance Secretary Cesar Purisima Thursday afternoon. "That [was] when he formally accepted [the reappointment]. This is to make sure that there will be continuity in the fiscal policies of the government." Lacierda said Tetangco's family supports his decision to continue his stay at the BSP for another six years. For his part, Tetangco said he will commit to continue working "tirelessly" in maintaining a sound banking system and price stability. The BSP, created in 1993, will continue to be vigilant and promptly address factors that will have adverse effects on the economy, according to Tetangco. — JE/OMG, GMANews.TV