National Treasurer Rosalia De Leon and former Finance undersecretary Romeo Berardo were named as the newest members of the seven-man Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas.
De Leon’s tenure as the National Treasurer spanned three presidencies. She has played a critical role in developing effective borrowing strategies and implementing credit enhancements to ensure access to the most cost-effective financing options.
She also handled the formulation of adequate operations guidelines for the Philippines’ fiscal and financial policies.
“I am profoundly honored to be entrusted with this prestigious role as a Monetary Board member of the Bangko Sentral ng Pilipinas,” De Leon said.
“I recognize the significant impact my decisions in this role can have on the lives of our fellow Filipinos. I am committed to working towards financial stability, fostering growth and contributing to the overall well-being of our nation,” she said.
As a MB member, De Leon will contribute her expertise in shaping monetary policies, managing foreign reserves and ensuring the stability of the banking system.
She also expressed commitment to contributing towards the growth and diversification of the domestic capital market.
De Leon has had a distinguished career at the Department of Finance where she served in various roles including director and undersecretary for the International Finance Group and chief-of-staff.
As the Undersecretary for the IFG, she successfully oversaw various significant transactions, including the issuance of global peso notes and several liability management exercises.
These exercises effectively reduced the government’s funding costs, extended maturity profiles and converted foreign exchange liabilities into local currency.
Meanwhile, Bernardo served as Finance Undersecretary in charge of international, treasury operations and privatization during the Ramos administration. He led the team that engineered the Philippines’ graduation from the IMF and back to creditworthiness in the mid- 1990s.
Bernardo studied Economics at the University of the Philippines and obtained his Masters in Development Economics from Williams College in the United States.