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Announcements May 26, 2022

Statement by the Bankers Association of the Philippines on the nomination of Benjamin Diokno and Felipe Medalla

The Bankers Association of the Philippines welcomes the nomination of Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno as Secretary of the Department of Finance and seasoned BSP Monetary Board Member Felipe M. Medalla as the new Governor of the central bank.

“Drs. Diokno and Medalla are notable economists who have the scholastic distinction and extensive experience that transcend different administrations, making them the best candidates for these roles,” Antonio C. Moncupa, Jr., President of BAP, said.

Prior to their roles in the BSP, Dr. Diokno was Secretary of the Department of Budget and Management under President Rodrigo Duterte and former President Joseph Estrada, while Dr. Medalla was Director-General of the National Economic and Development Authority under former President Estrada. Their experiences as economic managers in past administrations are valuable assets as the Philippines makes its way towards economic and post-pandemic recovery.

“We are confident that under their stewardship, the country will be able to successfully navigate the various fiscal and economic challenges incumbent upon us,” Moncupa added.

The BAP will continue to work with the DOF and BSP in pursuing initiatives that support fiscal stability and strength, and policies that will promote socio-economic development for the Filipino people.