Benjamin Diokno

{{Infobox officeholder

| honorific-prefix = The Honorable

| name = Benjamin Diokno

| image = Secretary Benjamin Diokno of the Department of Finance (cropped).png

| imagesize =

| caption = Official portrait

| office = Member of the Monetary Board of the Bangko Sentral ng Pilipinas

| term_start = January 12, 2024

| term_end =

| president = Bongbong Marcos

| predecessor = Peter B. Favila

| successor =

| office2 = 32nd Secretary of Finance

| term_start2 = June 30, 2022

| term_end2 = January 12, 2024

| president2 = Bongbong Marcos

| predecessor2 = Carlos Dominguez III

| successor2 = Ralph Recto

| office3 = 5th Governor of the Bangko Sentral ng Pilipinas

| term_start3 = March 4, 2019

| term_end3 = June 30, 2022

| president3 = Rodrigo Duterte

| predecessor3 = Nestor Espenilla Jr.

| successor3 = Felipe Medalla

| deputy3 = Francisco G. Dakila, Jr.
Eduardo G. Bobier
Chuchi G. Fonacier
Mamerto Tangonan

| office4 = 6th Secretary of Budget and Management

| term_start4 = June 30, 2016

| term_end4 = March 4, 2019

| president4 = Rodrigo Duterte

| predecessor4 = Florencio Abad

| successor4 = Janet Abuel (Officer-In-Charge)

| term_start5 = June 30, 1998

| term_end5 = January 20, 2001

| president5 = Joseph Estrada

| predecessor5 = Emilia Boncodin (Officer-In-Charge)

| successor5 = Emilia Boncodin

| birth_name = Benjamin Estoista Diokno

| birth_date = {{Birth date and age|1948|3|31}}

| birth_place = Taal, Batangas, Philippines

| nationality = Filipino

| spouse =

| relations =

| salary = {{up}} {{Currency|41.811|PHP}} million (2021){{cite news|url=https://www.bworldonline.com/the-nation/2021/05/12/368026/bsp-chief-highest-paid-official-in-2020-state-auditors-say// |title=BSP chief highest paid official in 2020, state auditors say |last=Cortez |first=Gillian |date=May 12, 2021 |publisher=BusinessWorld }}

| children = Charlotte Justine Diokno-Sicat
Benjamin G. Diokno Jr.
Jonathan Neil G. Diokno

| parents = Leodegario Diokno y Badillo (father)
Loreta Estoista (mother)

| relatives = {{collapsible list|Jose W. Diokno (second cousin)|Chel Diokno (second cousin once removed)|Ángel Diokno (great-grandfather)|Ananías Diokno (granduncle)}}

| residence = Quezon City, Metro Manila

| alma_mater = University of the Philippines Diliman {{small|(BA, MPA, MEc)}}
Johns Hopkins University {{small|(MA)}}
Syracuse University {{small|(Ph.D)}}

| occupation = Economist, public servant, university professor

| signature = Ben Diokno's Signature.png

}}

Benjamin Estoista Diokno (born March 31, 1948) is a Filipino economist who currently serves as one of the six members of the Monetary Board of the Bangko Sentral ng Pilipinas, which conducts the country's monetary policy and supervises its financial system.{{cite news|url=https://pco.gov.ph/news_releases/pbbm-appoints-diokno-as-member-of-monetary-board-thanks-him-for-his-services-to-the-finance-department/ |title=PBBM appoints Diokno as Member of Monetary Board, thanks him for his services to the Finance department |work=Presidential Communications Office|date=January 12, 2024 |access-date=January 15, 2024}}{{cite news|url=https://www.philstar.com/business/2024/01/15/2325812/diokno-monetary-board-member-im-now-cooling-down |title=Diokno as Monetary Board member: I'm now cooling down |work=The Philippine Star|date=January 15, 2024 |access-date=January 15, 2024}} Diokno previously served as Secretary of Budget and Management under President Joseph Estrada from 1998 to 2001 and under President Rodrigo Duterte from 2016 to 2019.{{cite news|url=http://www.gmanetwork.com/news/story/568254/news/nation/estrada-era-budget-sec-diokno-accepts-duterte-offer-to-return-to-post |title=Estrada-era Budget Sec. Diokno accepts Duterte offer to return to post |work=GMA News|date=May 31, 2016 |access-date=May 31, 2016}}[http://www.econ.upd.edu.ph/faculty/cv/bediokno.pdf Benjamin Diokno curriculum vitae] {{webarchive |url=https://web.archive.org/web/20061009030933/http://www.econ.upd.edu.ph/faculty/cv/bediokno.pdf |date=October 9, 2006 }} He also served as the Governor of the Bangko Sentral ng Pilipinas and the chairman of its Monetary Board, as well as ex officio chairman of the Anti-Money Laundering Council, from 2019 to 2022 under President Duterte{{Cite web|url=https://news.abs-cbn.com/news/03/04/19/duterte-picks-diokno-as-new-bangko-sentral-chief|title = Duterte picks Diokno as new Bangko Sentral chief|date = March 4, 2019}} His last Cabinet-level position was being the Secretary of Finance from 2022 to 2024 under President Bongbong Marcos.

From 2020 to 2021 during the COVID-19 pandemic, Diokno became the highest paid public officer in the Philippines.{{Cite web|last=Ramos|first=Christia Marie|title=Ben Diokno still highest-paid official in 2021; Calida slides down to 12th spot|url=https://newsinfo.inquirer.net/1613441/ben-diokno-still-highest-paid-official-in-2021-calida-slides-down-to-12th-spot|date=2022-06-20}}

Early life and education

Diokno is the son of Taaleños Leodegario Badillo Diokno (lived from c. 1898-August 24, 1982) and Loreta Estoista, Leodegario's second wife after the passing of his first spouse. Benjamin Diokno was born on March 31, 1948, in Taal, Batangas. His oldest brother Bayani Diokno (1943–2018), became a member of the US Navy for nearly three decades. His other siblings are Lucilo, Felipe, Emilio, Lydia (born 1942), Leonor, Amada, and Eduvijis. Leodegario Diokno was the son of Gregorio Diokno (born 1870) and grandson of Ángel Diokno (born c. 1830), the patriarch of the Taaleño surname.{{Cite web|title=Leodegardio Diokno y Badillo|website=FamilySearch |url=https://www.familysearch.org/tree/person/details/GZ2S-FTH}} Diokno is the second cousin once removed (through common ancestor Ángel Diokno) of Atty. Jose Manuel "Chel" Diokno of the Free Legal Assistance Group (FLAG) and is six degrees apart from the attorney Sen. Jose W. Diokno, who is Atty. Chel Diokno's father and is considered as the father of human rights. Though they are under the large Diokno family that hails from Taal, the main Diokno branch represented by Chel ran against the Duterte administration in the 2019 and 2022 Senate election, the administration Benjamin Diokno served.{{Cite news|title='Your Concern Is Human Rights, Mine Is Human Lives,' Duterte Says in Fiery Speech|newspaper=The New York Times|date=July 23, 2018|url=https://www.nytimes.com/2018/07/23/world/asia/philippines-duterte-speech-muslims.html|last1=Villamor|first1=Felipe}}

The young Benjamin finished his bachelor's degree in a bachelor of arts program in Public Administration from the University of the Philippines (UP) Diliman in 1968, and earned his master's degree in Public Administration (1970) and Economics (1974) from the same university. Diokno was later awarded an honorary degree from UP. He also holds a Master of Arts in Political Economy (1976) from the Johns Hopkins University in Baltimore, Maryland, USA and a Ph.D. in economics (1981) from the Maxwell School of Citizenship and Public Affairs, Syracuse University in Syracuse, New York, USA. His dissertation "Public Sector Resource Mobilization through Local Public Enterprises in Developing Countries : Issues, Practices and Case Studies" looked at using local public enterprise as alternative means of mobilizing funds for public purposes.{{Cite web|url=https://books.google.com/books?id=3YhUAAAAYAAJ&q=benjamin+diokno+syracuse+dissertation|title = Dissertation Abstracts International: The humanities and social sciences. A|year = 1982}}

Career

File:SBED-pantawid-pasada-program.jpg

= Undersecretary for Budget Operations, Department of Budget and Management (1986–1991) =

Diokno served as undersecretary for Budget Operations of the Department of Budget and Management from 1986 to 1991 under President Corazon Aquino.[http://www.programaanticorrupcion.gob.mx/Man_Politic_Reform_BM.pdf Managing the Politics of Reform -] {{ISBN|0-8213-6435-9}} {{webarchive |url=https://web.archive.org/web/20070609130740/http://www.programaanticorrupcion.gob.mx/Man_Politic_Reform_BM.pdf |date=June 9, 2007 }} In this capacity, he provided technical assistance to several major reforms such as the design of the 1986 Tax Reform Program,University of the Philippines Discussion Paper No. 0502 which simplified income tax and introduced the value-added tax (VAT), and the 1991 Local Government Code of the Philippines.Republic Act No. 7160

= Secretary of Budget and Management (1998–2001) =

During the Estrada administration, Diokno initiated and instituted several reforms that would enhance transparency and improve the efficiency of the delivery of government services. The first major reform instituted was the "what you see is what you get" or WYSWIG policy that is a simplified system of fund release for the General Appropriations Act (GAA). This allowed agency heads to immediately plan and contract out projects by just looking at the GAA, which is available in print and at the DBM website, without waiting for the issuance of an allotment authority.[http://www.dbm.gov.ph/index.php?pid=2&id=10 Department of Budget and Management] Diokno initiated the reform of the government procurement system (GPS) through the adoption of rapidly improving information and communications technology. He secured technical assistance from the Canadian International Development Agency (CIDA) to help the GPS develop an electronic procurement system along the lines of the Canadian model. By August 1999, the DBM had two documents necessary to initiate reforms in public procurement. In early 2000, Diokno and USAID successfully concluded a substantial technical assistance program for the DBM's budget reform programs, which now included procurement reform.Campos & Syquia. 2006. Managing the Politics of Reform: Overhauling the Legal Infrastructure of Public Procurement in the Philippines. World Bank Working Paper No. 70 Other budget reforms instituted by Diokno concerned procedures for payment of accounts payable and terminal leave/ retirement gratuity benefits. The release of cash allocation were programmed and uploaded to the department's website while payments were made direct to the bank accounts of specific contractor.

= Secretary of Budget and Management (2016–2019) =

File:Benjamin Diokno DBM.jpg

In his third tour of duty as Budget Secretary, Diokno intended to pursue an expansionary fiscal policy to finance investments in human capital development and public infrastructure. In addition, he seeks for the passage of a Budget Reform Bill to ensure the compliance of future budgets with the pertinent laws of the land. He also aims to re-organize and professionalize the bureaucracy with a Government Rightsizing Act.

= Governor of the Bangko Sentral ng Pilipinas (2019–2022) =

On March 4, 2019, President Duterte appointed Diokno as the fifth Governor of the Bangko Sentral ng Pilipinas (BSP), of which he will finish the unexpired term of his late predecessor, Nestor Espenilla Jr. which was supposed to end in July 2023.{{Cite web|url=https://www.bloomberg.com/news/articles/2019-03-04/philippines-names-budget-chief-diokno-as-central-bank-governor|title=Philippines Names Diokno as Central Bank Chief in Surprise Move|last=Alegado|first=Siegfrid|date=March 4, 2019|website=www.bloomberg.com|access-date=2019-03-05}}

= Secretary of Finance (2022–2024) =

On May 26, 2022, then President-elect Bongbong Marcos announced that he would nominate Diokno as the next Finance Secretary in his incoming administration,{{cite news|url=https://www.philstar.com/business/2022/05/26/2183858/marcos-jr-picks-bsp-governor-diokno-next-finance-secretary/amp/| title=Marcos Jr. picks BSP Governor Diokno as next finance secretary|work=Philippine Star|date=May 26, 2022 |access-date=May 26, 2022}} replacing Diokno in the role of the governor of BSP, with Felipe Medalla, who will finish Diokno's unexpired term.{{cite news|last1=Fenol|first1=Jessica|title=PROFILE: Seasoned economist Felipe Medalla taking helm of Bangko Sentral ng Pilipinas|url=https://news.abs-cbn.com/business/06/30/22/seasoned-economist-felipe-medalla-taking-helm-of-bsp|access-date=June 30, 2022|work=ABS-CBN News|date=June 30, 2022}} Diokno subsequently took his oath at the Malacañang Palace on June 30, 2022, following the inauguration of the former as president.

On January 12, 2024, Diokno was succeeded by Batangas 6th District Representative and Deputy Speaker Ralph Recto as the Finance Secretary, after the latter was appointed by President Marcos on January 11, with Recto taking the oath of office the next day.{{cite news|url=https://www.gmanetwork.com/news/topstories/nation/893947/marcos-swears-in-ralph-recto-as-finance-chief/story/|title=Marcos swears in Ralph Recto as Finance chief|first=Anna Felicia|last=Bajo|date=January 12, 2024|accessdate=January 12, 2024|work=GMA News}}

= Monetary Board Member of the Bangko Sentral ng Pilipinas (2024–present) =

On January 12, 2024, President Marcos subsequently appointed Diokno as one of the six members of the Monetary Board of the Bangko Sentral ng Pilipinas, replacing Peter B. Favila in the position.

Post-political life

Diokno is a professor emeritus of the School of Economics of the University of the Philippines-Diliman. He served as Fiscal Adviser to the Philippine Senate. He also served as chairman and CEO of the Philippine National Oil Company (PNOC) and Chairman of the Local Water Utilities Administration. He was also chairman of the Board of Trustees of the Pamantasan ng Lungsod ng Maynila (City University of Manila).

Diokno writes a column for BusinessWorld,[http://www.bworldonline.com/BW041708/content.php?id=144 BusinessWorld Online: Core - By Benjamin E. Diokno: "Doubting investors"]{{dead link|date=October 2016|bot=InternetArchiveBot|fix-attempted=yes}} Southeast Asia's first daily business newspaper.

References

External links

[https://web.archive.org/web/20061009021648/http://www.econ.upd.edu.ph/faculty/facultyProfile.php?id=13 UP School of Economics: UPSE Faculty Profile]
[https://web.archive.org/web/20061009030933/http://www.econ.upd.edu.ph/faculty/cv/bediokno.pdf Benjamin Diokno curriculum vitae]

{{s-ttl|title=Governor of the Bangko Sentral ng Pilipinas|years=2019–2022}}

{{s-ttl|title= Secretary of Budget and Management|years=1998–2001}}

{{s-ttl|title=Secretary of Budget and Management|years=2016–2019}}