Diokno offered to manage Maharlika Fund but he begged off, says Marcos

President Ferdinand Marcos Jr. delivers his speech in Malacañang on Friday, January 12, 2024. (INQUIRER.net/Ryan Leagogo)

MANILA, Philippines — Former Finance Secretary Benjamin Dioko is on his way back to the Monetary Board of Bangko Sentral ng Pilipinas (BSP).

This move comes, after he turned down a position in managing the Maharlika Investment Fund (MIF).

President Ferdinand “Bongbong” Marcos Jr. made the disclosure on Friday during his speech as he introduced new Finance Secretary Ralph Recto in Malacañang.

“The original plan was for us,” he told the audience.

“I asked Secretary Ben Diokno if he would like to join the Maharlika Investment Fund and the management of that, and to also serve as a liaison between the private sector in that capacity in the Maharlika Fund, as a liaison between government and private sector and the Fund,” he recalled.

“But he begged off, saying that this is the investment fund. The sovereign fund is not what he feels is a specialty of his,’ Marcos recalled.

“So, he will return to his purely financial duties now in the Monetary Board,” the President said.

Marcos then extended his gratitude to Diokno.

Former Finance Secretary Benjamin Diokno (File photo from Joseph Vidal/Senate PRIB)

He said Diokno was meant to retire in 2023.

“I think we all ganged up on him and asked him, ‘Please continue as Department of Finance (Secretary)’ simply because we had to get the economy… We had to get our policies onto the right track,” the Chief Executive said.

Marcos gave his assessment on Diokno’s performance: “He has done a splendid job as Secretary.”

The President said he will continue to rely on the guidance of Diokno, even if he has transferred to BSP.