Metro Manila (CNN Philippines) — President Rodrigo Duterte wants an unprecedented third term for Bangko Sentral ng Pilipinas (BSP) Gov. Amando Tetangco Jr.
Finance Department Spokesperson Paula Alvarez said Tuesday that the President is seeking congressional approval to amend the law to allow one more term for Tetangco.
“As per (Finance) Sec. (Sonny) Dominguez, the President indicated that he will ask the legislature if they can amend the term limit of the BSP governor so Gov. Tetangco can still serve,” Alvarez said in a text message to CNN Philippines.
Tetangco is scheduled to retire once his second term ends on July 2017. The BSP Charter currently limits the Governor and members of the Monetary Board to two terms.
Tetangco is the first the governor in the central bank’s history to serve two terms. He was appointed in 2005 by then-President Gloria Arroyo and was reappointed by former President Benigno Aquino III in June 2011.
Tetangco has yet to issue a comment on Duterte’s request for him to stay on as BSP head.
According to his profile on the BSP’s website, Tetangco is a career central banker who served different positions in the central bank since 1974. Before his appointment as the BSP chief, he was the Deputy Governor in charge of the Banking Services Sector, Economic Research and Treasury.
CNN Philippines Desk Editor Maricel Burgunio contributed to this report.
