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Economy

Death of central bank chief forces quick choice on Duterte

Convention shows that one of three deputy governors will be named successor

Nestor Espenilla, the Philippine central bank's late governor, presents new banknotes to President Rodrigo Duterte. (Photo courtesy of Philippine presidential palace)

MANILA -- President Rodrigo Duterte needs to move swiftly to name a successor to Philippine central bank Gov. Nestor Espenilla, whose death could create uncertainty in a country still reeling from nearly decade-high inflation.

Espenilla died on Saturday after a yearlong battle with cancer, just a year and a half after Duterte appointed him Bangko Sentral ng Pilipinas governor.

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