Lacson: Diokno is ‘reputable’ but ‘may not be the best choice’ as BSP governor

MANILA, Philippines — While newly appointed Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has a good reputation in public service, Senator Panfilo Lacson said he “may not be the best choice” for the position.

“Sec[retary] Diokno may not be the best choice since he is not well known to have much banking experience and has yet to introduce himself to the international banking community,” Lacson said in a statement.

“Nevertheless, knowing his long, reputable public service, both in the budget department and in the academe where he served with competence and integrity, he is still a welcome appointment as BSP Governor,” he added.

Meanwhile, Senator Ralph Recto said he had expected someone from within the BSP to be appointed as governor, but he nevertheless expressed confidence that BSP officials will guide Diokno in his new position.

“Sec[retary] Diokno can ably handle his new job as [BSP] Gov. [BSP] officials are professionals. [I] am sure they will help guide Sec. Diokno on his new role,” he said.

“I was expecting the president to appoint someone from within, but he did not. I would have appointed someone from within if I were president, but I am not the president,” he added.

Recto also noted that Diokno may bring “fresh” and “new” ideas to the country’s central bank.

“Sec. Diokno, being an outsider, may also bring in fresh new ideas. There is also a benefit to being an outsider who understands economics. Sec Diokno understands economics and monetary policy,” he said.

Meanwhile, Senator Loren Legarda congratulated Diokno on his appointment and said she believes he will be able to handle his position well with his competence and expertise.

“Congratulations, Ben Diokno on your appointment as the Governor of the BSP. I have high regard for your competence and expertise, which make you fit for this position,” Legarda, chair of the Senate finance committee, wrote in a Twitter post.

Congratulations, Ben Diokno on your appointment as the Governor of the BSP. I have high regard for your competence and expertise, which make you fit for this position. @SecBenDiokno pic.twitter.com/KGC8vub4ve

— Loren Legarda (@loren_legarda) March 4, 2019

For Senator Francis Escudero who chairs the Senate committee on banks, financial institutions, and currencies, he said that Diokno’s appointment would “ensure the stability, continuity & predictability of the country’s fiscal policies & gains.”

President Rodrigo Duterte earlier appointed the former Budget secretary as the new BSP governor to replace the late Nestor Espenilla Jr., who died last Feb. 23 after fighting tongue cancer. /ee

READ: Diokno is the new central bank governor