Bank exec says Diokno has ‘bird’s-eye view’ of economy

By Joann Villanueva/PNA

MANILA – A ranking BDO Unibank Inc. official is optimistic on the appointment of former Department of Budget and Management Secretary (DBM) Benjamin Diokno as Bangko Sentral ng Pilipinas (BSP) governor.

In reply to a phone message from the Philippine News Agency (PNA) Monday night, BDO chief market strategist Jonathan Ravelas said Diokno, who also headed the inter-agency Development Budget Coordination Committee (DBCC) on a concurrent basis, has an edge in the central bank.

“He has a bird’s eye view of the economy. He will be able to fine tune what’s needed to support growth shifting from the current 6 percent to a higher gear,” he said.

Ravelas said Diokno’s time at the DBM “highlights his commitment to keep fiscal discipline which will be the balancing force to support government but maintain independence.”

“He is a good communicator,” he added.

Diokno replaced BSP Gov. Nestor A. Espenilla Jr., a career central banker, who died last February 23 after more than a year of battling cancer.

Chief Presidential Legal Counsel and Presidential Spokesperson Salvador Panelo said Diokno was appointed to head the BSP during the Cabinet meeting Monday.