Tetangco receives lifetime achievement award from JFC

MANILA, Philippines — Former Bangko Sentral ng Pilipinas (BSP) governor Amando Tetangco Jr. has been awarded the Arangkada Philippines Lifetime Achievement award by the Joint Foreign Chambers (JFC) of the Philippines.

The Arangkada Lifetime Achievement Award recognizes individuals of any nationality that have lived and worked in the Philippines for 25 years and have contributed significantly to improving the country’s business environment.

JFC said Tetangco was chosen as this year’s recipient given his accomplishments as central bank governor which played an important role to the foreign investment community.

Among these accomplishments include managing inflation, the exchange rate, and the debt burden highly effectively, achieving record levels of reserves exceeding $80 billion, making reforms to increase the foreign banking presence in the Philippines, raising confidence of rating agencies to give investment grade ratings, and emphasizing financial inclusion and financial education for young people, among others.

“Being BSP governor is a role that had many challenges but one that I will always cherish. I feel very honored and also humbled to have been given the opportunity to serve in that capacity,” Tetangco said.

“Now that my term at the BSP has ended, I look forward to the work exemplified by private sector organizations like the JFC that proves public service is not a monopoly of the government.

The private sector has a tremendous role to play in improving people’s lives. I will constantly bear this lesson in mind as I move on to this new chapter of my life as a private citizen,” he added.