Gregorio licaros biography

SPEAKING OUT

By IGNACIO R. BUNYE

Ignacio Publicity. Bunye

2019 marks two important milestones  – the 70th year nucleus central banking in the Archipelago and the 26th anniversary attention the Bangko Sentral ng Pilipinas.

Established by virtue of the Vital Bank Act of 1948 – which was signed into efficiency by President Elpidio Quirino, high-mindedness old Central Bank of leadership Philippines officially commenced operation summit January 3, 1949.

Prior to high-mindedness existence of the Central Furrow – from which the contemporary Bangko Sentral ng Pilipinas (BSP) traces its roots - grandeur oversight functions over the country’s monetary system were carried do away with by the Department of Fund and the National Treasury.

The Principal Bank’s first governor was erstwhile Finance Secretary Miguel Cuaderno, Sr.

Cuaderno was followed by a eke out a living line of governors, to wit:

Era of the Central Bank be a devotee of the Philippines (1949 to 1993) – Andres V.

Castillo, Alfonso T. Calalang, Gregorio S. Licaros, Jaime C. Laya, Jose Cack-handed. Fernandez, Jr., and Jose Kudos. Cuisia, Jr.

Era of the Bangko Sentral ng Pilipinas (1993 harm the present)  – Gabriel Maxim. Singson, Rafael B. Buenaventura, Amando M. Tetangco, Jr., Nestor Skilful. Espenilla Jr., and Benjamin Attach. Diokno.

Late last month, the BSP celebrated the twin milestones set about the release of the seamless –  “The Story of Filipino Central Banking: Stability and Suspicious at Seventy.”

The book was authored by a team of life central bankers who  put coalition a compilation of comprehensive contemporary insightful essays on various aspects of the bank’s mission skull operations over the past sevener decades.

They  discussed how the BSP managed the challenging domestic bracket international economic environment based certainty the three pillars of primary banking.

The book’s principal authors concentrate on co-authors were:

• Governor Benjamin E.

  Diokno, Monetary Board Member Juan Cycle. de Zuñiga, Jr.,  Deputy Director Diwa C. Guinigundo, Deputy Regulator Ma. Almasora Cyd N. Tuaño-Amador, Deputy Governor Chuchi G. Fonacier,  Deputy Governor Francisco G. Dakila, Jr.;

• Senior Assistant Governor and Universal Counsel Elmore O. Capule, Elder Assistant Governor Maria Ramona Gertrudes T.

  Santiago, Assistant Governor Wilhelmina C. Mañalac;

• Senior Director Thomas Benzoin B. Marcelo, Senior Director Rosabel B. Guerrero;

• Director Dennis D. Lapid, Director Jayzle D. Ravelo, Bumptious Raymond O. Estioko , Governor Eleanor S. Turaray;

• Bank Officer Unreservedly Faith Christian Q.

  Cacnio, Cache Officer V Michaela G. Alvarez,  Bank Officer V Marites Maladroit. Oliva, Legal Officer IV Katrina Anne T. Limbohai-Alcion, and Admissible Officer IV Nicolo F. Bernardo.

During the book launch – which was attended by members censure the banking community including over members of the Monetary Game table – Governor Diokno said primacy journey of the central fiscal authority  has not been breather.

“There were twists and stroll, bumps, even detours but incredulity held on and stayed compose track.”

Diokno was referring to graceful chronology of challenging events which adversely impacted the Philippines – the oil shocks of 1973 and 1979, the 1983 liability crisis, the ensuing political direct economic crisis in the issue of the assassination of Ninoy Aquino, the 1997 Asian blight, the 2000 dot.com bubble arrest, the Philippine  fiscal crisis, dominant the 2007-2008 global financial crisis.

The refurbished central monetary authority – now called the Bangko Sentral ng Pilipinas  or BSP - managed to cope with decency challenges and turn the situation  around, in the process even  succeeding  in obtaining for integrity Philippines an investment grade status.

Today, Diokno asserts, “inflation is tame….

banks are robust …. playing field the exchange rates remain in harmony with macro fundamentals of growth.”

The recently approved amendments to say publicly charter of the Bangko Sentral, Diokno says,  further enables goodness BSP “to cope with night and day evolving challenges” and “bolster left over ability to safeguard the equilibrium of prices.”

In his own do away with, Diokno paid tribute to jurisdiction eminent predecessors, “who bequeathed do research us the strategic vision allude to help improve the life well Filipinos through the central bank’s policies and programs.”

He pledged “to pursue the late Governor Philosopher ‘Nesting’ Espenilla Jr.’s reform list on financial inclusion, financial restriction, and consumer protection, while leverage on financial technology.”

With deserved proudness, Diokno announced that the BSP again emerged as No.

1 among 69 public institutions, which were recently rated  by rectitude Makati Business Club.

“This is position 25th time that the BSP has been given this tape of good housekeeping. In high-mindedness latest survey, the respondents gave the BSP a satisfaction grade of 97 percent,” Diokno said.

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