Philippines appoints new central bank governor

President Gloria Arroyo announced on Monday 14 February the appointment of 52-year-old deputy governor Amando Tetangco as the new chief of the Philippines central bank, BSP. Tetangco joined the central bank in 1974.

BSP Governor Rafael B. Buenaventura said: "I truly welcome the decision of the President to ensure a smooth succession at the Bangko Sentral ng Pilipinas by designating Deputy Governor Amando M. Tetangco as my successor upon completion of my six-year term as Governor of the Bangko