Rappler
Rappler Recap: Why did Marcos replace Diokno with Recto in the DOF?
House Deputy Speaker Ralph Recto has been appointed as the new Secretary of the Department of Finance.
Recto's wife, Vilma Santos-Recto, confirmed his appointment, stating his oath-taking would be on Friday, January 12.
President Ferdinand Marcos Jr. stated that Benjamin Diokno was supposed to retire in mid-2023 but was asked to continue, and now feels it is time to return to the Monetary Board.
Marcos Jr. offered Diokno a post in the Maharlika Investment Corporation, but he turned it down.
There were incidents last year indicating Diokno was not fully in the loop with the administration's inner circle, such as his surprise at the rice price ceiling announcement and his opposition to suspending fuel excise tax.
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Benjamin Diokno officially turned over the Department of Finance leadership to his successor, Ralph Recto, on Monday.
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President Ferdinand "Bongbong" Marcos Jr. disclosed that former Finance Secretary Benjamin Diokno declined an offer to manage the Maharlika Investment Fund (MIF).
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House Deputy Speaker Ralph Recto has been appointed as the new Secretary of the Department of Finance (DOF), replacing Benjamin Diokno.
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Finance Secretary Ralph G. Recto has decided to maintain the current positions of most Department of Finance (DOF) officials as he takes the helm.
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Former Finance Secretary Benjamin Diokno has taken his oath as a member of the Bangko Sentral ng Pilipinas (BSP) Monetary Board.
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