The Philippines central bank: Is Duterte’s outsider a governor for the people?

When the Philippines needed a new central bank governor earlier this year, no one expected the president to pick an outsider for the job. During his first months in office, Benjamin Diokno has promised – and started – to deliver measures to spur expansion.

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Benjamin Diokno, head of Bangko Sentral ng Pilipinas

As budget secretary in the Philippines, Benjamin Diokno had a hand in president Rodrigo Duterte’s pro-growth brand of policymaking, focusing on infrastructure spending to drive economic expansion.

Now that he is head of Bangko Sentral ng Pilipinas (BSP), the central bank, he is expected to wear a different hat, preserving the institution’s independence, and balancing growth and inflationary pressures.

Diokno’s appointment as central bank governor came as a big surprise.

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