MANILA May 8 The appointment of Nestor
Espenilla as next governor of the Bangko Sentral ng Pilipinas
ensures continuity of policy and the central bank's thought
process, the incumbent Amando Tetangco said on Monday.
Tetangco said Espenilla, his deputy in charge of banking
supervision, "will be a pillar of support to the economy" and is
respected by bankers and financial regulators at home and
He will help maintain the Philippine position as one of the
world's best-performing economies, Tetangco said.
Espenilla will replace Tetangco, the widely respected career
central banker, who steps down in July after serving the maximum
two six-year terms allowed under the law.
(Reporting by Karen Lema; Editing by Martin Petty)