Benjamin Diokno, Budget Secretary has been selected by President Rodrigo Duterte to replace late Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr., confirmed by Diokno himself on Monday.
The former BSP Espenilla, 60, passed away on February 23 battling cancer for over a year. BSP Deputy Governor Almasara Tuano-Amador was as officer-in-charge following Espenilla’s passing.
“During the Duterte Administration, Sec. Diokno was instrumental in presenting a budget which laid down the foundation for a ‘Matatag, Maginhawa at Panatag na Buhay’ through investments in growth-enhancing infrastructure programs and innovations, inequality-reducing social services and peace-enabling initiatives. A job well done indeed, and expertly at that,” Presidential Spokesperson Salvador Panelo said in a statement.
Finance Secretary Carlos Dominguez III heavily promoted for Diokno as the central bank chief. Dominguez remarked Diokno “brings together that elusive combination of seasoned technocrat and professional manager.”
Dominguez added, “All of these will contribute to his successful stewardship of the Bangko Sentral ng Pilipinas as its next Governor and Chairman of the Monetary Board.”
“His competence is unquestionable, owing to his deep expertise in macroeconomics and extensive senior management experience in government and the private sector,” Dominguez continued.
House Committee on Banks and Financial Intermediaries Chair Leyte 2nd District Representative Henry Ong said in an approval of Diokno’s appointment, “Dr. Benjamin Diokno is a respected economist, university professor, and veteran in public service with decades of wisdom on inflation management and public finance. I hope that is enough for the banking community and the investing public to trust Dr. Diokno at the helm of the Bangko Sentral ng Pilipinas.”