Olongapo SubicBay BatangGapo Newscenter

Tuesday, June 07, 2005

GMA names 3 Monetary Board Members

Amatong, Villafuerte, and Antonio appointed


President Gloria Macapagal Arroyo yesterday named former Finance Secretary Juanita D. Amatong and two other government officials as new members of the Monetary Board, the policymaking body of the Bangko Sentral ng Pilipinas (BSP).

Trade Undersecretary Nelly Favis Villafuerte and Subic Bay Metropolitan Authority (SBMA) administrator and chief executive officer Alfredo C. Antonio were also appointed to the Monetary Board.

The new appointments take effect on July 4, which coincides with the assumption into office of incoming BSP Governor and Monetary Board chairman Amando M. Tetangco Jr. and the 12th anniversary of the Bangko Sentral ng Pilipinas.

Tetangco will replace Governor Rafael Buenaventura whose term expires on July 3. The three new BSP officials, meanwhile, will take the place of Juan Quintos Jr., Melito Salazar Jr., and Antonio Alindogan Jr.

The appointment of Amatong to the Monetary Board marks her return to the Arroyo government. She resigned as finance chief last January supposedly to return to the private sector.

Amatong also served as member of the Monetary Board when she was still Arroyo’s finance secretary. She obtained her business degree from Silliman University in Dumaguete City and postgraduate degree from Syracuse University in New York. Amatong is the first woman executive director in the World Bank Group from the Philippines.

Prior to her new appointment, Villafuerte was the head of the Department of Trade and Industry’s regional operations group. She earned a degree in law from the University of the Philippines in 1959 and passed the bar the same year before completing a postgraduate degree in business management from the Asian Institute of Management.

Bunye said Antonio will leave his present post at the SBMA when he assumes the BSP portfolio next month. He however refused to confirm rumors that Antonio’s replacement in the SBMA would be former Olongapo City mayor Katherine Gordon, wife of administration Senator Richard Gordon.

Before his stint at the SBMA, Antonio served as board member in Cosmos Bottling Corporation, Intex Telecoms Systems Corporation, JP Latex Technology Inc, and Equity Managers Asia Inc.

From 1994 to 1998, Antonio was executive vice president and chief operating officer of Associated Bank, chairman of the Philippine Savings Bank and chairman of the Development Bank of the Philippines.

He has a Bachelor of Science degree in economics from Ateneo de Manila University and postgraduate degree in business administration from Bernard Baruch College of the City University of New York.

In another development, Malacañang has tapped presidential consultant on investor relations Cora Guidote to be concurrent deputy spokesperson for economic affairs.

Bunye said Guidote retains her designation as presidential consultant while being the “de facto” spokesperson for economic affairs to avoid “plantilla” problems.

He said Guidote, who was plucked from the BSP investor relations division, would assist his office from time to time to communicate the President’s programs and policies in matters related to the economy and investor relations.


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