President Marcos has named a seasoned banker – his high school classmate – to the Monetary Board of the Bangko Sentral ng Pilipinas, which recently saw two of its members quit after they were linked to an unprecedented ghost employee controversy.
President Ferdinand"Bongbong" Marcos Jr. graces the 2024 General Assembly of the League of Municipalities of the Philippines at a hotel in Pasay City on February 27, 2024.The appointment of Walter Wassmer, who served as a consultant and non-executive director of the BDO Unibank Inc., was announced by the Presidential Communications Office in a statement yesterday. The board is the highest policy-making arm of the central bank.
President Marcos has yet to announce the final member of the MB. The new appointees will complete the terms of both Tolentino and Aquino, which were supposed to expire in July 2026. Last May, the BSP described the irregularity as “unprecedented” and reiterated its commitment to integrity and professionalism.
From late February to early March, four of the employees and one direct supervisor implicated in the report resigned, according to the BSP. Administrative disciplinary cases were filed in March before the effectivity of their separation, it added. The Philippines stands to become the next investment destination in the shipping and maritime industry, an official said at a maritime forum hosted by the embassy in Greece.
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