Turnover ceremony

Former Bangko Sentral ng Pilipinas Governor Felipe Medalla (left) hands over the reins of the central bank to Eli Remolona in a ceremony held on 3 July 2023 at the BSP head office in Manila. Governor Remolona underscored policy continuity as he cited the sustained easing of inflation, a strong banking system and an increasingly digitalized and efficient payments and settlements system in the country. He is the seventh head of the BSP since the enactment of The New Central Bank Act in 1993.