Bankers: Diokno’s appointment ‘a welcome surprise’

Though it came as a surprise, the Cebu Bankers Club (CBC) welcomed the appointment of Budget Secretary Benjamin Diokno as governor of the Banko Sentral ng Pilipinas (BSP).

“Some expected one of the deputy governors to get appointed. Secretary Diokno is also a veteran in the government service and has been a cabinet secretary in the previous administration,” CBC president Neil Credo of Maybank said. “We look forward to a continuity of the reforms started by the late BSP Governor Espenilla.”

Diokno replaced BSP Gov. Nestor Espenilla Jr., who died on Feb. 23.

The Bankers Association of the Philippines (BAP) sees a positive direction for the country’s banking industry with Diokno’s appointment.

“A respected economist, academic and civil servant, Diokno spearheaded various budget and governance reforms which improved the efficiency of the delivery of government services in the country,” the statement read.

“The BAP is optimistic that the reformist brand of leadership of the new BSP governor will pave the way in continuing the necessary reforms and policies to strengthen the Philippine banking industry,” it added.

Diokno, 70, was appointed budget secretary on June 30, 2016.

He served as undersecretary from 1986 to 1991 and budget secretary from 1998 to 2001.

Prior to his 2016 appointment, Diokno served as senior advisor to the International Tax and Investment Center, professorial lecturer at the University of the Philippines (Diliman) School of Economics, chairman of the Board of Regents, Pamantasan ng Lungsod ng Maynila (University of The City of Manila), and chairman of the Board of Trustees of the Ospital ng Maynila Medical Center, and fiscal adviser to the Senate, among others. /