Marcos announced the appointment of current Monetary Board Member Felipe M. Medalla, an economist and former National Economic Development Authority director general, as Bangko Sentral ng Pilipinas Governor, to replace Benjamin E. Diokno who was named finance secretary and head of the economic team. Also appointed was, Management Association of the Philippines President Alfredo “Fred” Espinosa Pascual as trade and industry chief.
“The business community is delighted to learn about the appointment of BSP Governor in Diokno as Secretary of Finance, who will head the administration team, said PCCI President George T. Barcelon. The PCCI head is optimistic that their appointments would bring confidence to local and foreign businesses investors. “We are fortunate that we have a strong foundation and we remain among one of Asia’s fastest growing economies. There remain some policy issues that needed to be addressed to accelerate our growth momentum,” Barcelon added.
Francis Chua, founding chairman of the International Chamber of Commerce, said “Diokno and Medalla are well experienced.” He cited Diokno’s profound knowledge can surely help the country if there are financial crisis. Ortiz-Luis also noted that “Balisacan has working relationship with the late President Benigno Simeon Aquino III while incoming DTI Secretary Alfredo Pascual has no political affiliation and incoming Finance Secretary Ben Diokno is not related politically, same with incoming new BSP Governor Felipe Medalla, who are from the University of the Philippines.
“With his competence, integrity, energy and a wide range of experience in different industries, I know he will steer DTI towards greater heights in the years ahead. He is an excellent choice!
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