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MANILA, May 8 (Reuters) - The appointment of Nestor Espenilla as next governor of the Bangko Sentral ng Pilipinas ensures continuity of policy and the central bank's thought process, the incumbent Amando Tetangco said on Monday.
Tetangco said Espenilla, his deputy in charge of banking supervision, "will be a pillar of support to the economy" and is respected by bankers and financial regulators at home and abroad.
He will help maintain the Philippine position as one of the world's best-performing economies, Tetangco said.
Espenilla will replace Tetangco, the widely respected career central banker, who steps down in July after serving the maximum two six-year terms allowed under the law.
Reporting by Karen Lema; Editing by Martin Petty