Philippine president removes Diokno as finance minister

Marcos gives former governor a place on central bank monetary board after rice subsidy clash

Benjamin Diokno
Benjamin Diokno
Photo: Valentina Annese

Philippine president Ferdinand Marcos removed Benjamin Diokno as finance minister on January 12, but gave him a place on the central bank’s monetary board. 

It is not clear why Marcos decided to replace the 75-year-old Diokno, a former central bank governor. Diokno recently criticised the policy of the Marcos government over rice subsidies, but issued a statement on January 15 warmly welcoming his successor. 

Marcos named Ralph Recto, the deputy speaker of the house of representatives, as his new

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account