Margarito Teves
Encyclopedia
Margarito "Gary" B. Teves (born August 1, 1943) was the secretary of the Department of Finance
of the Philippines
. He was appointed to the position in July 2005 by President Gloria Macapagal-Arroyo
, following a mass resignation of her economic team.
In January 2009 he was named "Best Finance Minister" in Asia, a title given by London-based international finance magazine, The Banker
.
from 1987 to 1998.
Following his three terms in office—the maximum number allowed by the constitution—he was succeeded by his father, Herminio Teves.
in July 2005 by President Gloria Macapagal-Arroyo
, following a mass resignation of her economic team.
As Finance Secretary, he oversaw the Arroyo administration's aggressive attempts to decrease the government's budget deficit.
Department of Finance (Philippines)
The Philippines' Department of Finance is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local...
of the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
. He was appointed to the position in July 2005 by President Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo is a Filipino politician who served as the 14th President of the Philippines from 2001 to 2010, as the 12th Vice President of the Philippines from 1998 to 2001, and is currently a member of the House of Representatives representing the 2nd District of Pampanga...
, following a mass resignation of her economic team.
In January 2009 he was named "Best Finance Minister" in Asia, a title given by London-based international finance magazine, The Banker
The Banker
The Banker is an English-language monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London...
.
Congressman
Teves was born in Negros Oriental Province. He was elected congressman representing the 3rd district of Negros OrientalNegros Oriental
Negros Oriental is a province of the Philippines located in the Central Visayas region. It occupies the south-eastern half of the island of Negros, with Negros Occidental comprising the north-western half. It also includes Apo Island — a popular dive site for both local and foreign tourists...
from 1987 to 1998.
Following his three terms in office—the maximum number allowed by the constitution—he was succeeded by his father, Herminio Teves.
Secretary of Finance
Teves was appointed as Secretary of the Department of FinanceDepartment of Finance (Philippines)
The Philippines' Department of Finance is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local...
in July 2005 by President Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo is a Filipino politician who served as the 14th President of the Philippines from 2001 to 2010, as the 12th Vice President of the Philippines from 1998 to 2001, and is currently a member of the House of Representatives representing the 2nd District of Pampanga...
, following a mass resignation of her economic team.
As Finance Secretary, he oversaw the Arroyo administration's aggressive attempts to decrease the government's budget deficit.