BSP official accepts term extension
January 29, 2011
CITY OF SAN FERNANDO — Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. has finally accepted a six-year term extension offered by the Aquino administration.
“He agreed to the term extension after consulting the family,” said Apalit Mayor Oscar Tetangco Jr., nephew of the BSP official.
overnor Tetangco, a native of Apalit, was first offered the six-year term extension early December by President Benigno Aquino III.
He did not immediately accept the offer, saying he has to consult with his family first.
Aquino reportedly made the offer for the continuity of policies and programs inside the Central Bank.
“He had a long discussion with the family and thinking it’s for the betterment of the country, he decided to accept it,” Mayor Tetangco said.
The younger Tetangco said their family is honored since the new administration also extended its trust to the BSP official.
Tetangco was appointed BSP governor by former President Gloria Macapagal-Arroyo in 2005. His first term is due to expire this July as Central Bank chiefs have a fixed six-year term.
Source: http://www.sunstar.com.ph/pampanga/local-news/bsp-official-accepts-term-extension
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