Latest news with #EliRemolona
GMA Network
28-05-2025
- Business
- GMA Network
Remolona still top paid gov't official in 2024, other BSP execs in top 10
BSP Governor Eli Remolona Jr. raked in almost P48 million in salaries and allowances in 2024, the COA reported. BSP file photo Bangko Sentral ng Pilipinas governor Eli Remolona remained the highest-paid non-elected government official in 2024, with other BSP officials as usual dominating the list of highest-paid officials, per the latest Report on Salaries and Allowances (ROSA) of the Commission on Audit. Remolona topped the list with salaries and allowances amounting to P47,968,744.27. His colleagues in the central bank make up the rest of the top 10: 2. BSP Deputy Governor Chuchi Fonacier - P30,392,497.52 3. BSP Deputy Governor Francisco Dakila Jr. - P28,823, 948.62 4. BSP Deputy Governor Elmore Capule - P26,536,981.86 5. BSP monetary board member Romeo Bernardo - P26,034,456.02. 6. BSP Senior Assistant Governor Edna Villa - P25,820,446.56 7. BSP Senior Assistant Governor Johnny Ravalo - P25,368,507.94 8. BSP Monetary Board member Rosalia De Leon - P25,282,758.41 9. BSP Deputy Governor Eduardo Bobier - P23,753,195.75 10. BSP Monetary Board member Benjamin Diokno with P23,520,261.49 In the 11th to 20th spots are: 11. Solicitor General Menardo Guevarra - P23,011,603.26 12. Supreme Court Associate Justice Ramon Hernando - P22,321,791.70 13. PAGCOR chairperson Alejandro Tengco - P21,046,379.50 14. BSP Deputy Governor Mamerto Tangonan - P20,905,530.32 15. SC Justice Mario Lopez - P19,556,751.25 16. BSP Deputy Governor Bernadette Romulo-Puyat - P19,525,166.01 17. BSP Senior Assistant Governor Iluminada Sicat - P19,434,667.77 18. SC Chief Justice Alexander Gesmundo - P19,133,746.14 19. Development Bank of the Philippines President Michael De Jesus - P18,452,709.44 20. PAGCOR General Manager Redentor Rivera - P17,899,592.13 According to COA, the amounts listed are the grand totals of the salaries, allowances, and other emoluments received by each official. — Vince Angelo Ferreras/BM, GMA Integrated News
Bloomberg
23-05-2025
- Business
- Bloomberg
Philippines May Cut US Treasury Holdings After Moody's Move
The Philippine central bank may consider reducing its holdings of US Treasuries after Moody's Ratings downgraded the US' credit score, according to Governor Eli Remolona. 'We're looking at it,' Remolona said when asked at a briefing on Friday if there's a chance the Philippines will start cutting its US treasuries as part of its reserves. 'It's one thing when other countries' debt is downgraded, but the US Treasuries, now that's a big thing.'
Bloomberg
15-05-2025
- Business
- Bloomberg
Philippine Bonds Ripe for Rally as More Rate Cuts Look Likely
Philippine sovereign bonds may rally in the coming months as slowing growth and easing inflation boost the case for further interest-rate cuts. The yield on the country's 10-year sovereign bonds might fall to as low as 5.5% this year from its current level of 6.2%, according to Rizal Commercial Banking Corp. Central bank chief Eli Remolona has said 75 basis points of additional rate cuts are possible this year after the economy expanded more slowly than expected in the first quarter.
BusinessToday
08-05-2025
- Business
- BusinessToday
Philippine Economy Slows In Q1, With Growth Below Expectations
Credits to eLegal Philippines The Philippine economy grew by 5.4% in the first quarter of 2025, slower than the expected 5.7%, according to data from the statistics agency. Despite this miss, the growth still outpaced the 5.3% expansion recorded in the final quarter of 2024. Consumption, driven by the nation's 114 million people, remains the key engine of growth. However, uncertainties stemming from the US-China trade war and global market volatility pose risks to the economy. The country's government, led by President Ferdinand Marcos Jr., has set a target of at least 6% growth for this year. The weaker-than-expected performance strengthens the case for additional rate cuts by the Bangko Sentral ng Pilipinas. Governor Eli Remolona indicated that the central bank could lower interest rates by another 75 basis points as inflation continues to slow. Compounding the situation, the Philippines faces a midterm election next week, adding to the uncertainty surrounding the country's economic outlook. Bloomberg Related
The Star
07-05-2025
- Business
- The Star
Philippines signals it won't intervene to cap peso strength
MANILA: Philippine central bank Governor Eli Remolona signalled authorities are unlikely to intervene to curb the strength in the peso, which has risen along with Asian peers this month. "This is a story of dollar weakness,' Remolona said in a mobile-phone message on Wednesday (May 7). "To intervene now would be to go against the tide.' The peso climbed to its strongest level since March 2024 this week, on growing optimism over trade deals. The stance of the Bangko Sentral ng Pilipinas stands in contrast to peers in Taiwan and Hong Kong, who have intervened in the market to slow the pace of appreciation in their currencies. - Bloomberg
