Two private sector representatives to Monetary Board appointed
PRESIDENT Rodrigo R. Duterte reappointed V. Bruce J. Tolentino and named Anita Linda R. Aquino as members of the central bank’s Monetary Board (MB).
Mr. Tolentino and Ms. Aquino will serve as full-time private sector representatives to the policy-setting body, the Bangko Sentral ng Pilipinas (BSP) said in a statement on Tuesday.
The MB is composed of seven members appointed by the president and headed by BSP Governor Benjamin E. Diokno. Among its key responsibilities is to decide on central bank policy, including setting key interest rates. It also issues rules and regulations for the financial market.
Mr. Tolentino had, since June 2018, served the unexpired term of the late Mr. Valentin A. Araneta. Prior to his role as an MB member, Mr. Tolentino was the Deputy Director General of the International Rice Research Institute.
He was also the former chief economist and country representative for nonprofit international development organization The Asia Foundation. His other previous roles also include being a senior technical adviser at the Agriculture and Natural Resources of the Catholic Relief Services and senior economic policy adviser at the Asian Development Bank.
“I will continue to focus on enhancing financial inclusion, especially for farmers and the agricultural value chain. This will strengthen food security and serve as the strong foundation for sustainable development,” Mr. Tolentino said in a mobile message.
Meanwhile, Ms. Aquino served as chief of staff at the Department of Finance and took on key positions at Standard Chartered Bank Manila, Rizal Commercial Banking Corp., Citicorp Investment Bank in Singapore, and Citibank NA Manila.
The incoming MB member was also part of the board of directors of the Philippine Deposit Insurance Corp. as a representative of the private sector. She also represented PDIC as board adviser to the United Coconut Planters Bank. — L.W.T. Noble
