Metro Manila (CNN Philippines, June 23) — President Ferdinand Marcos Jr. named Eli Remolona as the incoming Bangko Sentral ng Pilipinas governor, the Presidential Communications Office announced Friday.
Remolona has been a member since 2022 of the BSP’s monetary board, the bank’s policy-making body. He will replace Felipe Medalla, whose tenure will end on July 2.
“After extensive consultations with the Department of Finance, various government offices, private banks and financial institutions, President Ferdinand Marcos Jr. has made the decision to appoint a new Governor to succeed Governor Medalla,” said PCO in a statement.
Remolona first worked as an economist at the Presidential Economic Staff and Development Management Staff during the administration of President Ferdinand E. Marcos Sr. in 1972.
He also worked at the Bank for International Settlements, where he served as regional head for Asia and Pacific.
Remolona also served as a professor of finance and director of Central Banking at the Asia School of Business in Kuala Lumpur, Malaysia from 2019 to 2022.
He has worked as a consultant for the Asian Development Bank, the International Monetary Fund, and the World Bank.
