Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla Jr. PDI PHOTO / JOSEPH AGCAOILI
As the Bangko Sentral ng Pilipinas under his watch aspires to achieve “truly inclusive growth” through financial inclusion and a market-oriented monetary policy, Governor Nestor A. Espenilla Jr. in his first day as the top man tasked to keep prices low and supportive of economic expansion pledged “continuity plus plus” in reforms and sought support from his central bank family.
In his first speech as BSP Governor and Monetary Board Chair for a six-year term until 2023, Espenilla expressed gratitude to his mentor and predecessor, the multi-awarded Amando M. Tetangco Jr., who served an unprecedented two six-year terms as BSP chief.
“Governor Say, I am truly grateful for your mentoring all these years. Yours are truly big shoes to fill and I am thankful that I am inheriting such an exemplary and world-class institution,” Espenilla said, referring to Tetangco in his nickname.
Moving forward, Espenilla said: “I dedicate my term as BSP Governor to building and leveraging on this legacy of excellence.”
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“We shall endeavor to fulfill our core mandates with greater vigor and integrity to ensure that both the economy and the financial system remain strong, stable, and resilient so that they facilitate transformational opportunities for all,” Espenilla said.
The BSP chief noted that while “the Philippines continues to experience strong economic performance amid a stable macroeconomic and financial environment,” such growth can truly be meaningful only if it was inclusive, creating jobs as well as improving the people’s welfare.
