Republic of China (Taiwan) Central Bank Gov. Perng Fai-nan was named Jan. 22 the winner of the lifetime achievement prize at the 2018 Central Banking Awards organized by London-based Central Banking Publications.
According to the U.K. publisher, Perng received the honor for successfully safeguarding economic stability in Taiwan over the past two decades through such major crises as the dot-com crash, U.S. subprime mortgage collapse and subsequent global financial meltdown.
An innovative manager, Taiwan’s central bank head is also praiseworthy for helping pioneer the adoption of unconventional but effective approaches, including employing macro-prudential tools to forestall asset bubbles and implementing a progressive approach to capital account liberalization, CBP said.
The award marks the latest international recognition for Perng. Since taking up his post in 1998, he has become the first person to earn “A” ratings in 14 editions of the annual survey of central bank leaders by New York-based Global Finance magazine. And in 2009, he was named Asian Central Banker of the Year by London-based magazine The Banker.
The 79-year-old, who is the longest-serving head of the ROC Central Bank, is preparing to step down from his position after announcing in 2016 that his fourth and current term running until February 2018 would be his last.
CBP founded the annual Central Banking Awards in 2013 to recognize international accomplishments in macroeconomic and financial management. Honorees are assessed and chosen by the publisher’s editorial advisory board, which includes Nobel Memorial Prize in Economic Sciences winners Robert J. Shiller and Robert Mundell.
Perng is the fifth recipient of the Lifetime Achievement Award following Donald Kohn, former vice chairman of the U.S. Federal Reserve; Jacques de Larosiere, former governor of the Bank of France; Paul Volcker, former chairman of the U.S. Federal Reserve; and Zeti Akhtar Aziz, former governor of the Central Bank of Malaysia. The honor will be represented at a March 1 ceremony in London. (CPY-E)
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