Guest of Honor and Speaker’s Profile: Amando M. Tetangco, Jr.

Mr. Amando M. Tetangco, Jr. is the Governor of the Bangko Sentral ng Pilipinas (BSP), a position he has held since July 2005. As BSP Governor, he serves as Chairman of the Monetary Board, the BSP’s principal monetary policy-making body.

A career central banker, Mr. Tetangco has been in the service of the BSP for over four decades. Prior to his first appointment as Governor, he was Deputy Governor in-charge of the Banking Services Sector, Economic Research and Treasury of the BSP. He also served as Alternate Executive Director of the International Monetary Fund in Washington, D.C. from 1992 to 1994.

Governor Tetangco is credited with strengthening the BSP’s ability to promote growth and stability through its policies concerning monetary, banking and the payments system. Among others, the Philippines has achieved the ideal convergence of higher economic growth and low inflation – for instance, 2015 GDP expanded by 5.8% amid an inflation rate of 1.4%. The Philippine banking system is well-capitalized and supportive of an expanding economy while the payment and settlement system remains safe, efficient and a source of confidence in the growing financial system. At the same time, a strong external position from the current account surpluses and ample international reserves provide cushion from possible shocks to the economy.

During Governor Tetangco’s term, the Philippines has made significant progress in promoting a more inclusive financial system. In particular, financial inclusion, financial education and consumer protection were institutionalized in the BSP agenda. Under his leadership, the BSP’s financial education initiatives were deepened thru the establishment of the BSP’s Economic and Financial Learning Program (EFLP), a comprehensive, nationwide campaign targeting key audiences. Economic and Financial Learning Centers were also established in the various regions of the country, to serve as primary access point for the public to gather economic and financial information. In 2015, the BSP also spearheaded the adoption of the National Strategy for Financial Inclusion, a collaborative effort among the BSP and 12 other government agencies that is envisioned to be the platform to unify the government’s financial inclusion efforts.

As head of the BSP, Governor Tetangco is involved in various local and international organizations. He is the Chairman of the Anti-Money Laundering Council (AMLC), the Financial Stability Coordination Council, and the Philippine International Convention Center. He is also Vice-Chair of the Agriculture Credit Policy Council; member of the Capital Markets Development Council (CMDC) and the Export Development Council (EDC). Overseas, he represents the country at the ASEAN Central Bank Forum; the Executive Meeting of East Asia and Pacific (EMEAP) Central Banks; the South East Asia Central Banks (SEACEN); the South East Asia, New Zealand and Australia (SEANZA); and the Center for Latin American Monetary Studies (CEMLA). At the International Monetary Fund, he is the Governor for the Philippines while he is the Alternate Governor at both the World Bank (WB) and the Asian Development Bank (ADB). At the Bank for International Settlements (BIS), he is Chair of the Meeting of Small Open Economies. He has also held chairmanships of various international committees: the BIS Asian Consultative Council; the Financial Stability Board (FSB) Regional Consultative Group for Asia; and the Alliance for Financial Inclusion (AFI) Steering Committee.

Governor Tetangco obtained his economics degree from the Ateneo de Manila University, cum laude, and his Master’s in Public Policy and Administration with concentration in Development Economics at the University of Wisconsin-Madison, USA as a Central Bank scholar. He attended various training programs at different institutions including the Harvard Business School and the New York Institute of Finance.