By Goddes Hope O. Libiran
There's a popular stereotype that finance and economic experts are stiff and inaccessible when it comes to discussing even the basics of why and how the Philippine economy is either in a slump or stepping up.
But not Secretary of Finance Benjamin Diokno, whose stellar career in government service has earned him the trust of four Philippine heads of state, including President Ferdinand R. Marcos Jr.
Whether giving a press briefing or speaking at a global conference, Sec. Diokno—looking effortlessly striking in his business suit—will most likely be discussing the difficult conversations, those that are prone to public debate and pertain to policies and solutions defining the post-pandemic course of our country.
And, when he talks about contentious topics, like the Maharlika Investment Fund or the Military Uniform Pension, there is no politician-like grandstanding. This is because he was never a politician from the beginning. What comes across is his commitment to bringing clarity, and dissecting and breaking down complex ideas into simpler ones to convey the message and make the people understand.
His experience serving different administrations since 1986—and with various economic challenges he faced during these periods— surely warrants him to be the right man for the job.
Imagine this: Sec Ben is part of the crucial Development Budget Coordination Committee or DBCC, the highest budget policy-making body in the Philippines, which is composed of the Secretary of Budget and Management as Chair, the Secretary of Finance as Co-Chair, and the Secretary of Socioeconomic Planning and the Governor of the Central Bank as members.
And he's held three of the four positions in DBCC.
Now, as Finance Secretary, he remains committed to pursue economic recovery and growth with equity.
Secretary of Finance Benjamin Diokno
But let me tell you why I'm in awe of our Finance Secretary, who seems to have that perpetual formal demeanor. Truth be told, as his former students have shared with me, Sec. Ben also has his other, more laid-back side—one where he manages to inject humor and make students even more fascinated and inspired to learn today's lesson in Economics.
I've seen that side of Sec. Ben— one who puts wit in his remarks, not because he thinks lightly of things, but because he's openly reaching out to make concepts and ideas more accessible to his audience.
Reactivating and reviving the economy after the pandemic shock is foremost on President Ferdinand R. Marcos Jr’s agenda. Sec. Ben, along with members of the economic team, is at the center of this goal for robust growth. He is prone to receiving criticisms. But notwithstanding controversies, he remains frank and upfront about discussing policies and issues with the public.
Obviously, not one to mince words, Sec. Ben said, "I get into these controversial discussions because I’m very transparent. I don’t ‘sugar-coat’ my statements. I say what I mean and mean what I say. Sometimes, these hurt sensibilities and some offend parties."
Secretary of Finance Benjamin Diokno
"In public life, you can’t avoid criticisms – warranted or unwarranted. My attitude is simple: Don’t spend too much time worrying about the criticism, focus on your job, there’s no substitute for good performance.'”
I asked him to talk about what he meant when he said in a TV interview that he's seen the worst, which is why he has strong faith in the upsurge of the country's economy despite the harsh impact of the pandemic.
Sec. Ben replied, "As a serious student of the Philippine economy, and in my long years of service and seeing the ups and downs of the Philippine economy, I can truly say that this is our moment: All the stars are aligned."
He further elaborated, "All the necessary conditions for sustainable long growth exist: strong economic fundamentals, strong jobs market, manageable fiscal house, a strong commitment to public infrastructure, manageable debt-to-GDP ratio, healthy banking sector, and hefty gross international reserves."
Enlightening without being preachy, it's easy to see why he leaves a compelling impression among colleagues, staff members, and even former students. He may have been a loss to the School of Economics in UP Diliman where he taught for years, but he's a valuable gain to the public sector.
So I asked him if he misses teaching. Sec. Ben let out a smile as if remembering those times. He revealed his original career plans.
"Early in my youth, I was already attracted to a career in public service ... I did the necessary academic preparation. I completed my undergraduate and master’s degrees in public administration at the age of 22," the Finance Secretary disclosed.
"But my final goal was to be a lawyer, after my father… But with the declaration of Martial Law, Congress was closed. Jobless, I must quickly change my career. I accepted a teaching position as an Assistant Professor at the U.P. School of Economics. That started my long career as an academic—not as a politician. And I truly enjoyed every hour of my teaching career."
The B side of Sec. Ben
Born and raised in Taal, and a member of the distinguished Diokno clan, Sec. Ben says that part of the reason why he wanted to be a public servant was his family legacy.
He said, "I knew that many Dioknos before me have served in government in various capacities. So, I would say that my heritage has weighed heavily in my desire to serve the government."
Believe me, Sec. Ben is a stickler for punctuality. He used to only think about work. But nowadays, he finally decided to uphold balance in his daily routine.
"Early in my career in government I was a 24/7 person. My staff called me 'Mr. Horrible' because I demand so much but give them very little time to finish their assignments. I’ve changed. Nowadays, I’m in the office at around 7:30 am and usually off by 6:00 pm, but I continue to work at home until late in the evening. This gives time for my staff to be with their friends and families," he revealed.
Quietly confident and wise with true mentor spirit, Sec. Ben—in his field where economic forecasts and cash flows are critical— does think a lot about the future, and pointed out that every human being should individually and collectively care about the consequences or his or her actions on our planet’s future."
After serving four Presidents under three different positions, Sec Ben Diokno aspires to leave behind a body of accomplishments that would make the Philippines greater, more prosperous, and more beautiful.
The administration turns a year old this month. But Sec. Ben, who has been serving the country for decades in various capacities as an economic whiz, has always put his eye on uplifting every Juan's quality of life. Truly, Sec. Ben's vision and hope for the country never wavered.