Margarito Teves

In this Philippine name, the middle name or maternal family name is Bustaliño and the surname or paternal family name is Teves.

Margarito "Gary" Bustaliño Teves (born August 1, 1943) is a Filipino politician who served as 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.^[1]

Margarito B. Teves
Teves in 2006
38th Secretary of Finance
In office July 22, 2005 – June 30, 2010
President	Gloria Macapagal Arroyo
Preceded by	Cesar Purisima
Succeeded by	Cesar Purisima
Member of the House of Representatives from Negros Oriental's 3rd district
In office June 30, 1987 – June 30, 1998
Preceded by	District created
Succeeded by	Herminio Teves
Personal details
Born	Margarito Bustaliño Teves (1943-08-01) August 1, 1943 (age 81) Dipolog, Zamboanga
Nationality	Filipino
Political party	Lakas (1995–present)
Other political affiliations	Lakas ng Bansa (1987) Laban ng Demokratikong Pilipino (1988–1995)
Spouse	Loretto Santos
Children	3
Alma mater	Williams College (MA)

In January 2009 he was named "Best Finance Minister" in Asia, a title given by London-based international finance magazine, The Banker.^[2]

Life and education

Teves was born in Sangkol, Dipolog, Zamboanga, to Herminio Teves and Narcisa Bustaliño. Teves received his M.A. in Developmental Economics from Williams College in 1968.

Career

Congressman

He was elected congressman representing the 3rd district of Negros Oriental 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 Finance 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.

Personal life

He is married to Loretto "Nini" Santos, and had three children together: Jennifer, Herminio Cirilo, and Kathyrine.