Tetangco conferred Japan’s Order of the Rising Sun

The Japanese Government cited Tetangco’s contribution in “strengthening the relations between Japan and the Philippines in the financial sector.

The Bangko Sentral ng Pilipinas (BSP) congratulates former BSP Governor Amando Tetangco Jr. on his conferment of the “The Order of the Rising Sun, Gold and Silver Star” by the Government of Japan recently.

BSP Governor Benjamin Diokno said “the BSP extends its warmest compliments to former BSP Governor Tetangco on his receipt of this prestigious award from the Japanese government. His example raises the bar for international financial cooperation and serves as an inspiration to Filipino central bankers to continue their pursuit of excellence.”

The order is awarded to those who have made distinguished achievements in international relations, promotion of Japanese culture, advancements in their field, development in welfare or preservation of the environment.

In a statement issued by the Japanese Embassy in Manila, the Japanese Government cited Tetangco’s contribution in “strengthening the relations between Japan and the Philippines in the financial sector.”

The Japanese Government recognized Tetangco’s role in drafting the law liberalizing the entry of foreign banks in the Philippines which allowed further participation of Japanese banks and improved the environment for Japanese companies to operate and expand businesses in the Philippines.

The Japanese Government said Tetangco also helped regional finance stabilization by promoting regional and bilateral financial cooperation led by Japan to overcome the global financial crisis in 2008; participated in the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meetings starting in 2012; promoted the Asian Bond Markets Initiative and the establishment of the ASEAN+3 Macroeconomic Research Office; strongly supported the creation of the “Joint Working Group on Bilateral Financial Cooperation between Japan and the Philippines” in 2014; and made huge efforts to expand the bilateral currency swap between Japan and the Philippines.