MB LINEUP DOWN TO BARE MINIMUM
THE Bangko Sentral ng Pilipinas (BSP) has taken down the names of two Monetary Board (MB) members, who resigned last month in the wake of a ghost employee scandal, from its website.
The central bank said that Malacañang had informed it and MB members V. Bruce Tolentino and Anita Linda Aquino that their resignations — earlier reported to have been made in May — had been accepted and were effective June 30.
This leaves the MB, which decides policy for the BSP, with just five members: central bank Governor Eli Remolona Jr., Finance Secretary Ralph Recto as the Cabinet representative, and former Finance chief Benjamin Diokno, former National Treasurer Rosalia de Leon, and former Finance Undersecretary Romeo Bernardo as private sector representatives.
Tolentino and Aquino, reported to have employed persons who were paid despite not putting in the required work, continued to remain mum on the issue.
Malacañang has also yet to issue a statement regarding the resignations or potential replacements. By law, the members of the Monetary Board are appointed by the president.
The central bank said the policymaking body, which met just last Thursday and decided to keep key interest rates unchanged, would still be able to fulfill its function.
It has said that most of MB duties can be performed provided there is a four-member quorum and that other responsibilities, including the grant of emergency loans, can be accomplished with five members present.
Remolona previously said that it would be up to the Palace to decide on the fate of the MB members involved.
He also said that the central bank was keen on preventing a repeat of the ghost employee scandal that had tarnished the image of its policymaking body.
Investigations by the BSP found that four employees were involved. Two supervisors were also dragged into the issue as they had vouched for the four. Four individuals were said to have resigned but disciplinary action would still be pursued, Remolona said.
2024-07-02T17:02:40Z dg43tfdfdgfd