GMA Names 3 Monetary Board Members; Amatong, Villafuerte, and Antonio Appointed

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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 Arroyos 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 Industrys 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. …