RP has new central banker

Thu, 03 Jun 1999, 00:00 WIB | Source: REUTERS

MANILA (Reuters): Rafael Buenaventura, who has topped a 24-
year stint with Citibank N.A. in Europe and Asia with a highly
visible profile as head of a profitable local bank, was named the
Philippines' new central bank governor on Wednesday.

Buenaventura, the president and chief executive officer of
Philippine Commercial International Bank, will take over when
governor Gabriel Singson retires on July 5, President Joseph
Estrada announced.

The announcement has been widely expected, and analysts said
there was unlikely to be any shift in the bank's policy of
lowering interest rates while keeping tight control over the
banking sector.

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