MANILA - President Rodrigo Duterte wants Bangko Sentral Governor Amando Tetangco to stay for an unprecedented third term and will ask Congress to amend the law to allow it, a government spokeswoman said Tuesday.
Tetangco, recognized as among the best central bankers in the world, is on his second term, which expires in July next year. He did not return a request for comment.
"President (Rodrigo) Duterte indicated to (Finance) Secretary (Carlos) Dominguez that he will ask the legislature if they can amend the law to increase the term limit of the BSP governor to three years so Governor Tetangco can stay," Department of Finance spokeswoman Paola Alvarez said in a text message to ABS-CBN News.
The Bangko Sentral ng Pilipinas Charter limits the BSP governor and members of the policy-making Monetary Board to two terms.
Duterte's plan to keep Tetangco as central bank governor was first reported on the Philippine Daily Inquirer.
Dutertre's predecessor, Benigno Aquino, reappointed Tetangco as BSP governor in 2011.