Philippines` ruling party backs policy advisor to head central bank

by Dramelin 12:30 AM 0 comments

Finance Secretary Carlos Dominguez has said potential candidates for the next central bank governor will undergo a selection process. It was not immediately clear whether the PDP-Laban party`s choice of Moncupa also had the blessing of Duterte. MANILA The political party of Philippine leader Rodrigo Duterte has backed Antonio Moncupa, the president of mid-sized lender East West Bank and head of the party`s policy think tank, to become the next governor of the country`s central bankSupport for Mocupa was announced by Senator Aquilino Pimentel, president of the ruling PDP-Laban party, in a statement issued on the Senate website on Sunday. (Reporting by Karen Lema; Editing by Simon Cameron-Moore) The current governor of Bangko Sentral ng Pilipinas (BSP), Amando Tetangco - a career central banker widely praised for his stewardship of one of the world`s fastest growing economies - is due to step down in July having completed a maximum two terms.