No third term for Tetangco – Dominguez

Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. is not going for a third term even as President Rodrigo R. Duterte hinted at amending laws to accommodate him for another six years, Finance Secretary Carlos “Sonny” G. Dominguez III said Tuesday.

“Sad. He told me that too,” Dominguez said in a text message to GMA News Online when asked to confirm that Tetangco has declined to serve for one more term.

Under the Central Bank Charter, governors are only allowed to serve two six-year terms.

Recognized as one of the best central bankers in the world, Tetangco is currently in his second term which expires in July. He was first appointed by former President Gloria Macapagal-Arroyo in 2005 and then reappointed by former President Benigno Aquino III in 2011.

Duterte was reported to have told Dominguez last year that he would ask Congress to amend existing laws and increase the term limits on the central bank governor as a way of accommodating a third term for Tetangco.

“Let’s cross the bridge when we get there,” Tetangco told reporters in November.

Dominguez said several individuals are being considered for the post but did not elaborate. “There are a number under consideration.”

Tetangco earlier signified he would prefer someone from within the Bangko Sentral to replace him, and among them are BSP Deputy Governors Diwa C. Guinigundo and Nestor A. Espenilla Jr. — Jon Viktor Cabuenas/VDS, GMA News