HE may not be as famous (yet) as a rock star or top chef Cristeta Comerford (the Fil-Am chef at the White House), but Dr. Eli Remolona is at the top of his game. Currently the chief representative for Asia and the Pacific of the Bank for International Settlements (the central bank of central banks), Dr. Remolona is considered to be the most prominent Filipino economist in international monetary and financial policy circles. Based in Hong Kong, he deals with the 12 most important economies in the Asia-Pacific region.
For him, economics is a passion. He worked for the World Bank and the Federal Reserve Bank of New York, and taught at Columbia University, New York University, Stanford University, and the University of the Philippines. He finished his bachelor's degree in economics (honors program) at Ateneo de Manila University, his master's degree in economics at the University of Hawaii, and his doctoral degree in economics at Stanford.
He has authored a lot of papers on economic policies and international finance, including the famous Krugman Report, in which he wrote the chapter on monetary policy. For his outstanding achievement, Bank of the Philippine Islands awarded him last month the BPInoy Award for being an excellent example of how to "be Pinoy" even when working abroad. The other awardees were Comerford and painter Anita Magsaysay-Ho.
Having spent a good many years abroad, Dr. Remolona knows what challenges overseas Filipino workers face. "There is some discrimination in the world. You can't let it put you down. Deal with it. Move on. Do better," he said.
Money advice He also advised OFWs to open a bank account and send money home carefully so money will be spent wisely at home. "Be careful with money," he added. Money remittance is safer through banks rather than through informal channels.