Bangko Sentral ng Pilipinas Governor Benjamin Diokno was named the “Global Central Banker of the Year 2022” by The Banker, an influential international monthly banking, finance and business magazine owned by the Financial Times.
The publication said it recognized Diokno as the best central banker in the world 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. Diokno’s recognition as the best central banker in the world by The Banker is the first for the Philippines.
Diokno, also the “Asia-Pacific Central Banker of the Year 2022,” was selected by The Banker as the “Global Central Banker of the Year 2022” among a list of winners from various regions.
Other regional central bankers of the year 2022, according to The Banker, are 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.
“I am truly honored to be named The Banker’s Global Central Banker of the Year. This award recognizes the effort we at the BSP have put forth over this past year—amid extraordinary challenges,” Diokno said in a statement.
The award highlights how Diokno and the BSP continued 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.
The Philippines is projected to grow by 7 to 9 percent in 2022. The BSP said it 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.
The Bankers Association of the Philippines congratulated Diokno “for a well-deserved recognition”.
“Governor 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,” the BAP said.
“His clear vision paved the way to bring forward the Philippines in the digital sphere at par with other advanced markets in the region while his strong resolve to environment, sustainable and governance inspired the banks to holistically implement ESG for a greener and sustainable Philippines,” the group said.