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Manila Bulletin devider Philippines devider National devider Economist-solon assesses Medalla's BSP stint

Economist-solon assesses Medalla's BSP stint

Published Jun 23, 2023 04:24 pm
Outgoing Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla


Outgoing Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla did an "outstanding" and "extremely successful" job during the past year at the helm of the country’s central monetary authority. Thus, said Albay 2nd district Rep. Joey Salceda as he welcomed on Friday night, June 23 Malacañang's appointment of Eli Remolona as Medalla’s successor starting early next month. Salceda thanked the 73-year-old Medalla “for his outstanding performance as BSP governor during immensely difficult times". “Governor Medalla’s stint in the BSP was extremely successful, judging by the challenges he has had to surmount and the outcomes of his decisions," said the economist-lawmaker. "We were able to withstand the global tide of Fed hikes, investor uncertainty, and global market disruption because of his skillful steering of the BSP," noted Salceda, the House Committee on Ways and Means chairman. Salceda said Dr. Remolona will have the very difficult task of protecting the country from external shocks and higher prices while providing enough policy space for growth. "Dr. Medalla walked that tightrope skillfully. I am optimistic Dr. Remolona will also do so," Salceda further said. The Bicolano also shared his personal affinity for Medalla, whom he feels he would hear more of in the coming days. “Governor Medalla has also been a mentor, especially during the fiscal reforms of 2003-2006 and I continue to learn from him in my work as chairman of the House Committee on Ways and Means. I look forward to hearing more of his usual wit and candor, which he will now be freer to dispense to policymakers like myself," he said. Medalla began his term as BSP chief on June 30, 2022. Remolona will take over on July 2, 2023.

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felipe medalla Eli Remolona joey salceda
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