BSP's new governor sets out stall

Nestor Espenilla tells FinanceAsia he will bring continuity in monetary policy — and a renewed focus on banking reform — to the Philippine central bank.

Amando Tetangco, the outgoing chief of the Philippine central bank, was never going to be an easy man to replace.

After 12 years at the helm, he had become the longest serving governor of Bangko Sentral ng Pilipinas. His experience running the institution through the administrations of Gloria Macpagal Arroyo, Benigno Aquino III and, most recently, Rodrigo Duterte underscored the political neutrality of the central bank.

But most importantly of all, his stewardship of the institution helped usher in a boom period for the Philippine economy. The country's 6.8% economic growth in 2016 made it one of the fastest-growing countries in Asia Pacific.

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