FULLY appreciative of his contributions and what he had done to the financial sector and to the country’s economy as a whole, the highly respected The Asian Banker has recently handed outgoing BSP Governor Amando M. Tetangco Jr. a lifetime leadership achievement award.

In bestowing the award, The Asian Banker chair Emmanuel Daniel lauded Tetangco for playing the central role in helping the Philippines transform from a speculative to an investment-grade economy.

“[Tetangco] made a huge difference… lifting his country to becoming investment grade and stepping high and tall in the league of nations,” Daniel said  while also describing him as “one of the most respected and highly regarded regulators to hail from Asia.”

As a consequence of his personal achievements, the BSP as an institution was also named by The Asian Banker as the best macroeconomic regulator in Asia-Pacific, the government’s Investor Relations Office (IRO) said in a statement.

Indeed, Tetangco deserves all the recognitions he is getting from various institutions and bodies as he prepares to leave the BSP in less than a month.

Tetangco’s unprecedented second term will end on July 2 but if President Duterte could have his way, he was believed to be bent on appointing him to a third term. Instead he will be replaced by BSP Deputy Governor Nestor A. Espenilla Jr.

In his stint as governor beginning 2005, he gave the BSP a face where his people and the country can rally from with his skillful handling of the Philippines’ economic policies.

Because of his astute steering of the BSP ship, the country has managed to weather all the headwinds and attained the status of one of the most sustainable and fast developing economies in the whole of Asia.

Tetangco is indeed a true genius and because of his unconventional yet effective leadership, he was able to create an environment that is conducive for sustainable economic growth.

In accepting his award, Tetangco said he was sharing the same with the men and women of the BSP adding that he was convinced that aiming for more inclusive economic growth is a fitting anchor to public service

Truly, Espenilla will have big shoes to fill once he assumes Tetangco’s post, but this paper believes that having been under the long tutelage of his boss, the former will live up to the high expectations.

The thing however is Espenilla should prove that he is equal if not better than Tetangco. 

And that is quite a huge mountain to scale.

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Sunday, 23 September 2018
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