Abenoja takes oath as BSP deputy governor

By Luisa Maria Jacinta C. Jocson, Senior Reporter

BANGKO SENTRAL ng Pilipinas (BSP) Assistant Governor Zeno Ronald R. Abenoja has been appointed as deputy governor for the regulator’s Monetary and Economics Sector (MES).

According to a social media post by BSP Governor Eli M. Remolona, Jr. on Tuesday, Mr. Abenoja, who was assistant governor of the central bank’s Monetary Policy Sub-sector, has taken his oath of office for his new post.

He will take over the position of former BSP Deputy Governor Francisco G. Dakila, Jr., who retired this year.

“The BSP is fortunate to have someone like (Mr. Abenoja), with his breadth of experience in economic policy and his depth of understanding in monetary economics,” Mr. Remolona said.

The MES is responsible for the BSP’s operations and activities related to monetary policy formulation, implementation, and assessment.

Monetary Board Member Benjamin E. Diokno said Mr. Abenoja “appreciates the close link between monetary and fiscal policies.”

“I’m confident that with (Mr. Abenoja) as their chief, MES and BSP are in good hands,” he added.

Mr. Abenoja returned to the central bank last year after serving as chief economist at the Department of Finance (DoF) under Mr. Diokno, who was Finance chief from 2022 to 2024. Prior to his DoF stint, he was the managing director of the BSP’s Department of Economic Research

“His outstanding track record in public service speaks volumes about his readiness to assume greater responsibility at the Bangko Sentral ng Pilipinas,” Monetary Board Member Rosalia V. de Leon added.

“For the next generation of public servants, he stands as a powerful example of what can be achieved through quiet dedication and mastery of one’s craft,” she said.

Market observers also welcomed Mr. Abenoja’s appointment.

Juan Paolo E. Colet, managing director of China Bank Capital Corp., said he is a perfect fit for the MES deputy governor post.

“He’s a respected economist, has a firm grasp of monetary policy, and knows the administrative workings of the BSP,” he said in a Viber message.

Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce noted Mr. Abenoja’s experience, expertise and leadership capability.

“As assistant governor, (he) already managed the monetary sub-sector and likely possesses extensive institutional knowledge. This continuity ensures a smooth transition and stability within the BSP’s monetary and economic sector,” Mr. Arce said.

“His prior experience suggests that he is well-equipped to handle the deputy governor role. This promotes confidence in his ability to lead, especially during times of economic uncertainty,” he added. “This decision likely strengthens market confidence in the central bank’s strategic and monetary leadership.”

BSP Deputy Governor Chuchi G. Fonacier, who heads the Financial Supervision sector, is also set to retire within this year.