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Manila Bulletin devider Philippines devider National devider Marcos thanks outgoing BSP gov Medalla for helping mitigate inflation

Marcos thanks outgoing BSP gov Medalla for helping mitigate inflation

Published Jun 30, 2023 10:17 am
President Ferdinand "Bongbong" Marcos Jr. has expressed his gratitude to outgoing Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla for his strong leadership that enabled the Monetary Board to mitigate the impact of inflation in the country.
*Outgoing Bangko Sentral ng Pilipinas Governor Felipe Medalla and President Marcos (BSP, MB file photos)*

Marcos said this during Medalla's farewell call on the Chief Executive in Malacañang on Friday, June 30. “We have to thank you. Yes. Maraming, maraming salamat,” Marcos told Medalla. Medalla's term as BSP governor ends on July 2, 2023, and he will be replaced by [Eli Remolona](https://mb.com.ph/2023/6/23/marcos-names-eli-remolona-as-new-bsp-governor), a current Monetary Board member. In response, Medalla thanked Marcos for appointing him and allowing him to serve the government as BSP governor. "I'm so thankful that I was able to get an appointment with you," he said. "Working for you for one year [at a] very critical time," he added. According to the outgoing BSP chief, the country should expect "a very good center-backing" under his successor. Medalla, who served as the director-general of the National Economic and Development Authority (NEDA) from 1998 to 2001, has been a member of the policy-making Monetary Board since July 2011. He is covering the remaining term of former BSP governor Benjamin Diokno, who was supposed to complete the unexpired six-year term of former BSP governor Nestor Espenilla Jr., who passed away in 2019. Under Medalla, the BSP ensured price and financial stability and carried out payments and settlements system reform. The BSP has been instrumental in weathering the impact of inflation and also making headway on boosting accounts ownership and expanding payments digitalization under its Digital Payments Transformation Roadmap.

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Bongbong Marcos Bangko Sentral Governor Felipe Medalla Bangko Sentral ng Pilipinas (BSP) President Marcos
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