February 13, 2017 / 8:04 AM / a year ago

Philippines' ruling party backs policy advisor to head central bank

MANILA, Feb 13 (Reuters) - The political party of Philippine leader Rodrigo Duterte has backed Antonio Moncupa, the president of mid-sized lender East West Bank and head of the party’s policy think tank, to become the next governor of the country’s central bank

Support for Mocupa was announced by Senator Aquilino Pimentel, president of the ruling PDP-Laban party, in a statement issued on the Senate website on Sunday.

The current governor of Bangko Sentral ng Pilipinas (BSP), Amando Tetangco - a career central banker widely praised for his stewardship of one of the world’s fastest growing economies - is due to step down in July having completed a maximum two terms.

It was not immediately clear whether the PDP-Laban party’s choice of Moncupa also had the blessing of Duterte. Finance Secretary Carlos Dominguez has said potential candidates for the next central bank governor will undergo a selection process.

Reporting by Karen Lema; Editing by Simon Cameron-Moore

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