Recto joins powerful Monetary Board

NEW ADDITION Finance Secretary Ralph Recto (right) took his oath of office as government sector representative to the Monetary Board (MB) on Jan. 22. The ceremony was administered by Bangko Sentral ng Pilipinas Governor and MB Chair Eli Remolona Jr. —PHOTO FROM DEPARTMENT OF FINANCE

MANILA,  Philippines  —It’s final: newly installed Finance Secretary Ralph Recto will represent the Marcos administration’s Cabinet in the seven-member Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP).

Both the BSP and the Department of Finance (DOF) confirmed the appointment of Recto, who took his oath of office on Monday as the latest member of the central bank’s policy-making body.

Chaired by Governor Eli Remolona Jr., the MB is composed of five other full-time members from the private sector, namely Benjamin Diokno, V. Bruce Tolentino, Anita Linda Aquino, Romeo Bernardo and Rosalia De Leon.

Diokno turned over the finance portfolio to Recto and returned to the BSP where he previously served as governor from 2019 to 2022.

Before his appointment to the DOF on Jan. 15, Recto served as deputy speaker of the House of Representatives in the 19th Congress, representing the 6th District of Batangas.

He was a senator for three terms (2001 to 2007 and 2010 to 2022) and held key positions that included senate president pro tempore and senate minority leader. From 1992 to 2001, he was the representative of the 4th District of Batangas.

Harvard course

In 2008, he served as socioeconomic planning secretary of Neda.

Recto holds a Bachelor’s Degree in Commerce majoring in Business Management from the De La Salle University in Manila.

He took up his master’s degrees in Business Economics from the University of Asia and the Pacific; and in Public Administration from the University of the Philippines.

Recto completed a leadership course at the John F. Kennedy School of Government at Harvard University. —Ian Nicolas P. Cigaral INQ