(Bloomberg) -- Philippine Finance Secretary Benjamin Diokno said he is likely “out” of contention for next central bank chief, adding he’s “almost sure” to stay in his current role.
“Many candidates” are being considered as the next Bangko Sentral ng Pilipinas governor, and President Ferdinand Marcos Jr.’s choice will be known in a few days, Diokno said in a briefing Friday. Governor Felipe Medalla, whose term ends in July, can be reappointed to the position, he said.
Diokno said the next BSP governor should ideally be a professional economist with an international stature, and not be a former banker. He also said he recommended someone for the post, but didn’t name his candidate.
“We are looking for the best candidate,” Diokno said. “I think the replacement should be better than the incumbent always.”
Rate Path In Focus as Philippines Awaits Next Central Bank Chief
The central bank governor and the finance secretary have increasingly crucial roles as the Philippines deals with elevated inflation, higher borrowing costs and mounting debt.
“I’m almost sure that I’m going to stay,” said Diokno, but added the president has the final say on which post he is best suited for. The current composition of the economic team will also likely remain unchanged, he added.
(Recasts lead, adds details from briefing)
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