Benjamin Diokno, Bangko Sentral ng Pilipinas (BSP) Governor, was named by The Banker, a UK-based finance news outlet, as the Central Banker for the year for Global and Asia Pacific.
Governor Diokno’s recognition as the best central banker in the world by The Banker is the first for the Philippines.
An influential international monthly banking, finance, and business magazine owned by the Financial Times, The Banker recognized Diokno “for his efforts to help stimulate economic recovery and growth for the Philippines amid the unprecedented COVID-19 crisis.’
The Banker’s Central Banker of the Year awards celebrate officials who have best managed to stimulate growth and stabilize their economies.
The award highlights how Diokno and the BSP “continue to reinforce the Philippines’ road to recovery and maintain a strict focus on financial stability and economic resilience amid the ongoing pandemic.”
Throughout 2021, Diokno and the BSP held a steadfast approach to monetary policy, which included extraordinary measures to ensure ample liquidity in the financial system, support orderly functioning of the financial market, and boost market confidence.
“While the entire world has been affected by the pandemic, the BSP has implemented policy responses to enable the Philippines to adapt to new ways of working, doing business, and living. Looking ahead, alongside my colleagues at the BSP, I will continue to work toward a stronger, more technologically savvy, more inclusive, and more sustainable Philippine economy,” Diokno said.
By the end of 2021, the Philippines was well into the recovery process, aided by COVID-response measures from both the fiscal and monetary sides.
In 2022, the Philippines is projected to grow by 7 to 9 percent. The BSP is committed to achieving its core goals of price and financial stability that strengthen the foundations for job creation and economic growth, enabling a brighter future for Filipino citizens.
Bankers Association of the Philippines (BAP) said the recognition is a well-deserved one.
“Diokno’s steadfast leadership motivated the banking industry to revolutionize its services, systems and operations to better serve the banking public in the midst of the global pandemic. Through his thoughtful foresight, the banking sector was able to successfully navigate and surpass the adverse impact of the crisis allowing the country to achieve positive growth in 2021 despite the continuing threat of the COVID-19 health crisis,” BAP, in a statement, said.
“We look forward to this continuing partnership with the BSP as we strive to empower individuals and businesses by fulfilling their banking needs,” BAP added.
The following are the other regional central bankers of the year 2022, according to The Banker: Central Reserve Bank of Peru Chairman Julio Velarde for the Americas, Banque de France Governor Francois Villeroy de Galhau for Europe, Central Bank of Bahrain Governor Rasheed M Al-Maraj for the Middle East, and Bank of Tanzania Governor Florens Luoga for Africa. Jimmy Calapati