BSP's Tetangco on reappointment: Let's cross the bridge when we get there

Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. did not categorically respond to an offer by President Rodrigo R. Duterte to another term as central bank chief, but said whoever will take his place will have a "committed and competent" team.

"Let's cross the bridge when we get there," Tetangco told reporters at the sidelines of the Security Bank Economic Forum 2016 in Makati City on Wednesday.

Recognized as one of the best central bankers in the world, Tetangco is already on his second term which expires in July next year.

His remarks came after Duterte reportedly suggested to Finance Secretary Carlos G. Dominguez III that he would ask Congress to amend existing laws and increase the term limits on the central bank governor as a way of accommodating Tetangco to another term.

Tetangco was first appointed by then-President Gloria Macapagal-Arroyo in 2005. He was reappointed by then-President Benigno Aquino III in 2011.

"I was first appointed in 2005 and then reappointed. Congress is now deliberating on the amendments to the BSP Charter so they're still in the process and I don't want to preempt our legislators," he said.

He noted that whoever would be the next governor would be taking over a world class monetary authority.

"What I can say is that the BSP has over the years been able to develop itself into a world class monetary authority that is able to deliver its prime mandates of maintaining price stability and maintaining financial stability, at the same time allowing banks to provide the necessary credit to support economic growth, and I think this is going to continue," he said.

"Whoever is appointed as next governor, he will have the support of a committed, competent team in the BSP," he added.

While he has yet to announce whether or not he would to stay as BSP Governor, he said that the offer for a third term is already an honor.

"It's really an honor to get that offer for a third term and I share this honor with the officers and staff of the BSP," he said. — VDS, GMA News