Diwa C. Guinigundo rose from the ranks of the Bangko Sentral ng Pilipinas (BSP) and is now Deputy Governor for the Monetary and Economics Sector, BSP. He has been serving the BSP for 41 years. He was assistant governor for monetary policy and international operations prior to his appointment as deputy governor in 2005.
Dep. Gov. Guinigundo has extensive international experience. In 2001-2003, he was Alternate Executive Director at the International Monetary Fund in Washington, DC. Earlier he was Head of Research at The SEACEN (Southeast Asian Central Banks) Centre in Kuala Lumpur in 1992-1994.
His leadership is well-recognized in Asia. Since 2000, Dep. Gov. Guinigundo has co-chaired the SEACEN Experts Group on Capital Flows with Bank Negara Malaysia. For the period 2009-2012, he chaired the Executive Meeting of East Asia and the Pacific (EMEAP) Monetary and Financial Stability Committee of EMEAP central bank deputies that is tasked to conduct regional and global surveillance. In 2010-2013 and in 2016-2018 he likewise chaired the ASEAN Senior Level Committee where he established various early warning systems for surveillance and risk management purposes. He also chaired the SEACEN Task Force on SEACEN membership; and the 2017 ASEAN Finance and Central Bank Deputies’ Meetings in Manila, Philippines in April 2017.
Most important, Dep. Gov. Guinigundo has profound knowledge of all central banking aspects having handled monetary policy, treasury operations, loans and credit, asset management, currency management, regional operations and international operations. He pioneered inflation targeting as the BSP’s analytical framework for monetary policy in 2002. In 2016, he was instrumental in introducing the interest rate corridor system as a tool for monetary management to keep inflation under control. He is also the moving force behind the BSP’s advocacy for economic and financial literacy to help the poor manage their finances and address the issue of poverty. Dep. Gov. Guinigundo also championed the establishment of Credit Surety Funds all over the Philippines to empower micro, small and medium enterprises by enhancing their access to bank credit without collateral. He participated in various banking rehabilitation workouts.
Dep. Gov. Guinigundo has represented the BSP in the annual Philippine Economic Briefing sessions in the Philippines as well as in Asia, Europe and the United States together with the country’s principal economic managers.
He graduated, cum laude, at the top of his AB Economics Class at the University of the Philippines (UP) School of Economics. He earned the M.Sc. degree in Economics at the London School of Economics (LSE) as a scholar of the Central Bank of the Philippines.