MANILA, Philippines, Feb 24 (NNN-PNA) – The governor of the country’s central bank, Bangko Sentral ng Phlipinas (BSP), and the chairman of the Monetary Board (MB), Nestor Espenilla, died on Saturday, at the age of 60, according to a statement of the MB on Sunday.
The board said, it is deeply saddened to announce that Espenilla peacefully passed away surrounded by members of his family. Espenilla had been undergoing treatment for cancer for more than a year, the MB, the highest policy making body of the BSP, said.
Espenilla was appointed by President Rodrigo Duterte on July 3, 2017. He concurrently served as ex-officio Chairman of the Anti-Money Laundering Council (AMLC), Philippine International Convention Centre (PICC), and the Financial Stability Coordination Council (FSCC).
“Under his leadership, the BSP continued to pursue major reforms under the theme: Continuity Plus Plus, covering monetary and financial policies, as well as, the BSP organisational structure. He also spearheaded the digitalisation of the retail payment system in the country for a more inclusive and efficient financial system,” the board said.
During his tenure, the amendments to the BSP charter were finally passed, strengthening the capability of the central bank to deliver its mandate to promote price and financial stability and to foster a safe, efficient and inclusive payment system.
In a special meeting held after Espenilla’s death, late Saturday, the Monetary Board designated Deputy Governor, Almasara Cyd Tuano-Amador, as BSP officer-in-charge, effective immediately until such time that Duterte shall have designated an OIC, or appointed a successor.– NNN-PNA
