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Marcos Jr. appoints Monetary Board member Eli Remolona as new BSP Governor

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="President Ferdinand Marcos Jr appoints Eli Remolona as the new BSP Governor. Photo: BSP " src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/06/23/eli-remolona-06232023.jpg"/><figcaption>President Ferdinand Marcos Jr appoints Eli Remolona as the new BSP Governor. Photo: BSP </figcaption></figure></div>MANILA (UPDATED)— President Ferdinand Marcos Jr. has appointed Monetary Board member Eli Remolona as the new Bangko Sentral ng Pilipinas Governor, the Presidential Communications Office said on Friday. Remolona, 70, will replace outgoing central bank chief Felipe Medalla. He will serve his new position in BSP for a six-year term.In a statement, Medalla said: “I am grateful to the President for having given me the chance to serve as BSP Governor, which is, by far, the best opportunity that I have received to truly make an impact and serve the Filipino people. I am honored to turn over the reins of the institution to my Monetary Board colleague Eli Remolona who is fully capable of leading the central bank in pursuing its mandates of promoting price and financial stability, and a safe and efficient payments and settlements system.” Remolona, who will be the seventh BSP Governor since the enactment of the New Central Bank Act in 1993, joined the Monetary Board in August 2022.In a separate statement, the PCO said Remolona has extensive central banking experience, having worked for 14 years at the Federal Reserve Bank of New York and 19 years at the Bank for International Settlements (BIS).Prior to joining the BSP, he served as an independent director of the Bank of the Philippine Islands. He was also a Professor of Finance and the Director of Central Banking at the Asia School of Business in Kuala Lumpur. ​​ He also taught at Williams College, Columbia University, New York University and the School of Economics of the University of the Philippines, the PCO said. Remolona received his PhD in Economics from Standford University and a bachelor&#x27;s degree in Economics Honors from the Ateneo de Manila University. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/05/23/who-will-be-the-next-bsp-chief">Who will be the next BSP chief?</a></li></ul><div> </div>

President Ferdinand Bongbong Marcos Jr has appointed Monetary Board member Eli Remolona as the new Bangko Sentral ng Pilipinas Governor, the Presidential Communications Office said on Friday. 