BSP names new member of policy-making board

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) welcomed the appointment of International Rice Research Institute (IRRI) deputy director general Bruce Tolentino to the seven-member Monetary Board.

BSP Governor and Monetary Board chairman Nestor Espenilla Jr. administered Tolentino’s oath of office last June 8.

President Duterte appointed Tolentino as full-time private sector representative completing the highest policy making-body of the BSP. He will serve the unexpired balance of the six-year term of the late MB member Valentin Araneta until July 21, 2020.

Tolentino completes the MB chaired by Espenilla with Finance Secretary Carlos Dominguez, former socioeconomic planning secretary Felipe Medalla, former trade secretary Peter Favila, former Metropolitan Bank & Trust Co. president Antonio Abacan, and former BSP deputy governor Juan de Zuñiga as members.

He earned a doctorate in Economics at the University of Hawaii and the East West Center, and a master’s degree  in economics at Xavier University in the Philippines.

Before joining the MB, Tolentino served as IRRI deputy director general.

Prior to this, he was chief economist and country representative at The Asia Foundation (2007-2012), senior technical adviser at the agriculture and natural resources of the Catholic Relief Services (2004-2007) and senior economic policy adviser at the Asian Development Bank (2002-2004).