Former BIS / US Fed executive and Economics Professor named BSP governor

PHILIPPINES - In Brief 23 Jun 2023 by Romeo Bernardo
We expect financial markets here and abroad to welcome the appointment of Eli Remolona as BSP Governor. Currently a member of the Monetary Board, he will assume the governorship on July 3. As we wrote in our latest Forecast report, Mr. Remolona is preeminently qualified for the job having spent 14 years at the Federal Reserve Bank of NY and 19 years at the Bank for International Settlements, half of which was as BIS regional head for Asia and the Pacific. He was also an Economics Professor at the University of the Philippines and Williams College. One banker described Mr. Remolona's choice as an "inspired and inspiring appointment”. Indeed, we expect him to continue the tradition of independent, proactive monetary management of his predecessors. We also congratulate the President for continued record of outstanding appointments.

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