Tetangco among world’s best central bankers

MANILA, Philippines - Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. has been named one of the world’s best central bankers by an international magazine.

Global Finance magazine awarded the heads of the central banks of the Philippines, Malaysia and Taiwan with the highest rating.

Tetangco, Bank Negara Malaysia governor Zeti Akhtar Aziz, and Central Bank of the Republic of China (Taiwan) governor Fai-Nam Perng were all given an “A” rating.

This is the fifth time Tetangco has been named as one of the world’s best central bankers. He received the same recognition in 2006, 2007, 2011 and 2012.

Meanwhile, Banco Central de Chile governor Rodrigo Vergara and the European Central Bank president Mario Draghi were given the second highest rating, an “A-.”

“As developed economies begin the gradual route to recovery and some of the largest emerging markets continue to slow down, the world’s central bankers face a challenging time in managing monetary policy to positively influence economic stability and growth,” Global Finance publisher Joseph Giarraputo said in a statement.

“Every year, we assess the determination of central bankers to stand up to political interference and their efforts at influencing their governments on such issues as spending and economic openness to foreign investment and financial services,” he said.

The annual Central Banker Report Cards, which rates central bank governors of more than 50 countries, was first published in 1994.

Factors assessed include inflation control, economic growth goals, currency stability and interest rate management.