Diokno named world’s best central bank manager for 2022


Benjamin diokno

Benjamin Diokno, governor of Bangko Sentral ng Pilipinas (BSP) is the best central banker of 2022 not only in the Asia-Pacific region, but in the world, according to The Banker.

A member of the UK-based Financial Times group founded in 1926, The Banker is an influential international monthly magazine and online portal providing economic and financial information to the global financial industry.

In its January 4 editorial, the magazine said Diokno had helped the Philippines weather the COVID-19 pandemic and advanced its agenda to modernize the country’s banking system.

The group also noted that Diokno’s goal as head of the BSP was to create a strong banking sector that supports individual consumers while advancing the digital banking agenda.

“After recording a 9.6% drop in gross domestic product in 2020, the [Philippine] The economy rebounded in 2021, registering an increase of 12% in the second quarter and 7.1% in the third quarter of last year, ”the publication said.

“With inflation having a global impact, Mr. Diokno has taken the position of keeping interest rates low (2%) for as long as possible to maintain stability,” The Banker said. “Believing that the current environment is transitory, he decided to maintain an accommodating monetary policy to support the economy.”

In addition, the magazine also cited Diokno for supporting the transition to a low carbon society in the Philippines, with the BSP leading a technical task force of 18 agencies dubbed the “Green Force”.

Created to ensure the flow of funds into green projects, this group defined its core principles with the launch of the Philippine Sustainable Finance Roadmap.

“On the central bank side, Mr. Diokno is committed to creating a regulatory environment that supports the management of environmental risks and the financing of sustainable activities,” the publication said.

According to the BSP, the recognition of Diokno as the world’s best central banker by The Banker was a first for the Philippines.

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