PRESIDENT Rodrigo Duterte has named Budget Secretary Benjamin Diokno as the new governor of Bangko Sentral ng Pilipinas (BSP).

This was confirmed by Executive Secretary Salvador Medialdea in a text message sent to reporters on Monday night, March 4.

Diokno replaced the late central bank chief Nestor Espenilla Jr., who passed away on February 23 after battling tongue cancer for more than a year.

Diokno's appointment to the BSP came several weeks after calls for his resignation were made over alleged insertions in the 2019 budget.

Malacañang earlier said Duterte wanted the new head of BSP to have "competence and integrity."

The Palace has yet to release a copy of Diokno's appointment paper as of Monday night.

Diokno, 70, served as Budget Undersecretary from 1986 to 1991 and Budget Secretary from 1998 to 2001. He was appointed by President Rodrigo Duterte as Budget Secretary on June 30, 2016.

Prior to his 2016 appointment, Diokno served as senior advisor to the International Tax and Investment Center (ITIC); professorial lecturer at the University of the Philippines (Diliman) School of Economics; chairman of the Board of Regents, Pamantasan ng Lungsod ng Maynila (University of The City of Manila); and chairman of the Board of Trustees of the Ospital ng Maynila Medical Center, and fiscal adviser to the Senate, among others. (SunStar Philippines)