Guinigundo Named BSP Deputy Governor
Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. announced yesterday the appointment of economist Diwa C. Guinigundo, 51, as Deputy Governor of the BSP in charge of Monetary Stability Sector.
As such, he will be in charge of economic research, economic statistics, the center for monetary and financial policies, branch operations, loans and credits, asset management, cash department operations, as well as currency issuance and retirement. Prior to this, he was assistant governor in charge of the Monetary Policy Sub-Sector.
Guinigundo is well-exposed to the real sector of the economy. He started his public service at the Department of Labors National Manpower and Youth Council as senior manpower development officer and spent the next 27 years with the Philippine central bank as an economist looking after specific areas of prices and the real sector; external debt, balance of payments and international organizations; and quantitative analysis.
He was director of the BSPs Department of Economic Research from 1994 until 2000 when he was promoted managing director. It was during this time that the BSP started to lay the groundwork for the shift of monetary policy framework from monetary aggregates to direct inflation targeting. The Monetary Board approved the transition in 2000 until it was formally implemented in 2002 after a series of public consultations all over the Philippines. …