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Perng ranked top-tier central banker for eighth straight year

2012/08/24 21:49:24

Taipei, Aug. 24 (CNA) Perng Fai-nan, the head of Taiwan's central bank, was named one of the world's best central bankers in 2012 for the eighth consecutive year by Global Finance magazine on Thursday.

Perng, 72, has been given an "A" grade by the magazine every year since 2005 and is the only central banker in the world to have received the honor nine times, including the "A" he received in 2000.

He was also named the Central Banker of the Year, Asia by "The Banker" in 2009.

Of the 51 central bank chiefs rated this year, only five others -- from Australia, Israel, Canada, Malaysia and the Philippines -- received an "A."

Central bank chiefs were assessed on an "A" to "F" scale for success in areas such as inflation control, economic growth goals, currency stability and interest rate management.

Perng attributed his run of success to Taiwan's 23 million people, saying that financial stability and sound market development are the result of a concerted effort by the country as a whole.

Attention will likely now turn to his future. Perng's third term as governor of the Central Bank of the Republic of China (Taiwan) comes to an end in February 2013, and if he stays on in the position, he will become the longest-running central bank chief in the country's history.

Yu Kuo-hwa also governed the central bank for three consecutive terms, from 1969 to 1984. Each term lasts five years.

Perng has said previously that he did not know if he would continue on as central bank chief, but he was insistent that it would be his last job in public service.

(By Kao Chao-fen and Jamie Wang)