Philippines names Remolona as new Central Bank chief

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MANILA (Bloomberg): The Philippines has tapped Eli Remolona (pic), currently a member of the central bank’s monetary board, as the head of the country’s monetary authority.

Remolona will succeed Felipe Medalla whose term ends July 2, according to a government statement.

Remolona worked at the Bank for International Settlements for almost two decades, serving as regional head for Asia and the Pacific from 2008 to 2018. He also worked at the Federal Reserve Bank of New York for 14 years.

Prior to joining the Philippine central bank’s monetary panel, he served as independent director at the Bank of the Philippine Islands. Remolona finished a doctorate in economics with distinction from Stanford University.