Philippine president removes Diokno as finance minister
Marcos gives former governor a place on central bank monetary board after rice subsidy clash
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
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