The Partido Demokratiko Pilipino-Lakas ng Bayan party is set to formally endorse banker Antonio Moncupa to be the next Central Bank governor.
Senate President Aquilino Pimentel III, who is also president of the ruling party, said the party will soon endorse Moncupa to PDP chairman and President Rodrigo Duterte.
Pimentel said he believes that Moncupa is the most qualified among the candidates to head the monetary authority.
“I believe Mr. Moncupa has all the qualities required to lead the central bank in this period of challenge and change. He is an experienced banker whose knowledge of the financial markets is matched only by his unquestionable integrity and character and passionate nationalism,” Pimentel said.
Moncupa, who is currently president of East West Bank, also heads the PDP-Laban policy think-tank. He is a former activist and political detainee.
The Senate president said Moncupa is highly capable and knowledgeable about financial and monetary policies, which would allow him to manage inflation and keep the foreign exchange market stable.
“It is time for bold and innovative leadership at the BSP. It can no longer be ‘business as usual’ in government, particularly at the central bank which is the overseer of the country’s financial system,” he added.
Pimentel said that under the leadership of Moncupa, he would foster a more responsive and vigilant banking industry through a reinvigorated BSP.