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Manila Bulletin devider Business devider Diokno set to return to Monetary Board

Diokno set to return to Monetary Board

Published Jan 12, 2024 06:10 am

At A Glance

  • Former Finance Secretary Benjamin E. Diokno to join Monetary Board (MB) of Bangko Sentral ng Pilipinas (BSP).<br>Budget Secretary Amenah F. Pangandaman announces Diokno's return to BSP as MB member on Friday morning.<br>Presidential Communications Office yet to announce Diokno's appointment as of posting.<br>MB comprises seven members appointed by the president for a six-year term; among highest-paid government officials per Commission on Audit<br>Diokno, familiar figure in MB, previously served as BSP chief and government representative during tenure as finance secretary in Marcos administration<br>Once appointed, Diokno to join MB members including V. Bruce J. Tolentino, Anita Linda R. Aquino, Romeo L. Bernardo, and Rosalia V. De Leon, with BSP Governor Eli M. Remolo as chairman<br>On Thursday, Malacañang confirmed Deputy Speaker and Batangas Representative Ralph Recto as new finance secretary<br>Finance chief typically serves as government's representative to MB, but President holds discretion to appoint another cabinet official.

Former Finance Secretary Benjamin E. Diokno is set to join the Monetary Board (MB), the policy-making body of the Bangko Sentral ng Pilipinas (BSP), a ranking government official announced.

In a statement, Budget Secretary Amenah F. Pangandaman said on Friday, Jan. 12, that Diokno, a former central bank governor, will rejoin the BSP as a member of the MB, filling the last remaining vacant seat.

The Presidential Communications Office has not yet announced Diokno's appointment as of posting.

The MB comprises seven members who are appointed by the president for a six-year term. According to the Commission on Audit's report, they are among the highest-paid government officials in the country.

Diokno is a familiar figure within the MB, having previously held the positions of BSP chief and government representative to the policy-making body during his tenure as finance secretary in the Marcos administration.

Once officially appointed, he will join other MB members, including V. Bruce J. Tolentino, Anita Linda R. Aquino, Romeo L. Bernardo, and Rosalia V. De Leon, with BSP Governor Eli M. Remolo serving as chairman.

On Thursday, Jan. 11, Malacañang officially confirmed that Deputy Speaker and Batangas Representative Ralph Recto is to be sworn in as the new finance secretary.

Normally, the finance chief serves as the government's representative to the MB. However, the President has the discretion to appoint another cabinet official to the influential policy-making body of the central bank.

Related Tags

Monetary Board Finance Secretary Benjamin E. Diokno Budget Secretary Amenah F. Pangandaman
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