Business group expresses support for Diokno as new BSP chief

Business group Management Association of the Philippines (MAP) cheered on Tuesday the appointment of Budget Secretary Benjamin Diokno to the helm of the Bangko Sentral ng Pilipinas (BSP).

"The Management Association of the Philippines welcomes the appointment of Sec. Benjamin E. Diokno as the new Governor of the Bangko Sentral ng Pilipinas," MAP said in a statement.

The business group made the statement a day after Malacañang confirmed Diokno’s appointment as the central bank chief.

The outgoing Budget chief will take over the post left behind by the late BSP Governor Nestor Espenilla, Jr., who died last month after battling tongue cancer for more than a year.

"We believe that his expertise as an economist and his extensive experience in the Executive Branch on fiscal policy and management will serve him well in his new job," MAP said.

"We fully support the BSP’s initiatives to maintain price and financial stability in support of sustained economic growth, a more efficient payments system as well as its efforts to further broaden financial inclusion," it said.

The business group also expressed confidence that the BSP under "Governor Diokno" will continue to promote good governance and transparent policies in the financial system. —LDF, GMA News