Bunye quits Monetary Board

MANILA, Philippines - Former press secretary and presidential spokesman Ignacio Bunye has resigned from the policymaking Monetary Board of the Bangko Sentral ng Pilipinas, sources said yesterday.

Bunye, appointed in July 2008 as a member of the Monetary Board, was said to have already submitted his resignation letter dated Jan. 24 to President Aquino and BSP governor Amando Tetangco Jr.

His resignation takes effect on Feb. 6, almost five months before his six-year term ends on July 2.

Bunye tendered his resignation citing the health condition of his wife, sources revealed.

Bunye served as press secretary and spokesman for former President Gloria Macapagal-Arroyo.

He has also served as mayor of Muntinlupa City, chairman of Metropolitan Manila Development Authority, and representative of the lone congressional district of Muntinlupa City.

The President appoints members of the Monetary Board. The board is chaired by the central bank governor, while the law also requires that one of the board members should be from the Cabinet.

Aside from Bunye, current members of the Monetary Board include Finance Secretary Cesar Purisima, Alfredo Antonio, former trade secretary Peter Favila, former socioeconomic planning secretary Felipe Medalla, and former BSP deputy governor Armando Suratos.