MANILA, Philippines - New York-based business magazine Global Finance has named Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. as one of the world’s top central bankers for the eighth time despite volatile financial markets overseas.
Tetangco again earned a prestigious “A” grade on Global Finance’s Central Banker Report Cards together with eight other heads of central banks all over the world.
Other heads of the central banks who received “A” grade were from Israel, Lebanon, Paraguay, Peru, Russia, Taiwan, and the United Kingdom.
The central bankers of Jordan, Mexico, Morroco, and the US earned “A-” grades.
Tetangco has earned the feat for the past six years since 2011. He also received the prestigious “A” grade in 2006 and 2007.
He is the first central bank governor to serve the BSP in two consecutive terms after being reappointed by former president Benigno Aquino III in 2011.
Tetangco, who has been BSP governor since 2005, will be in office until July 2017.
Global Finance publisher and editorial director Joseph Giarraputo said head of central banks are tackling “unprecedented challenges from political upheavals and low commodity prices as well as employment rates that remain weak despite low interest rates.”
“Wise monetary policy can mitigate the negative impacts of political and economic change, but requires stiff resolve to navigate competing interests and visions. As these scores demonstrate, some central bankers are more constrained by circumstance than others, while some have shown remarkable agility in driving policy,” Giarraputo said.
The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 75 key countries (and the European Union) on an “A” to “F” scale for success in areas such as inflation control, economic growth goals, currency stability and interest rate management.
“A” represents an excellent performance down through “F” for outright failure.
“As our scores show, some central banks have fared better than others in devising such policies. Our grades also reflect the willingness of central bankers to stand up to political interference as well as their ability to influence government policies on spending and foreign investment,” Giarraputo said.