Let us also welcome the three appointees of the President who will join the Monetary Board for a term of six-years each — former trade secretary and veteran banker Peter Favila who returns to the MB; former economic planning secretary and eminent economist Dr. Phillip Medalla who was reinstated for another term at the Board; and veteran banker and corporate CEO Antonio Abacan.
They complete the seven-man MB with Finance Secretary Sonny Dominguez; former general counsel and deputy governor of the BSP Juan de Zuniga, Jr.; veteran banker and former PDIC Head Val Araneta; and Monetary Board Chairman and BSP Governor Nestor Espenilla, Jr.