WITHOUT fanfare, President Ferdinand Marcos Jr. made a judgment call which saw the replacement of his top economic manager – a technocrat by the name of Benjamin Diokno.
For one, Diokno is no pushover. His journey from one technical post to another is in itself a proof of his extensive knowledge, knack and expertise on the economy, and that is exactly why the President made sure that Diokno stays well within his reach by appointing him to the Monetary Board.
What compelled the President to replace a very intelligent man like Diokno? To be perfectly honest, Marcos is a politician and the last thing he needs is building up a mob of dissatisfied Filipinos in view of Diokno’s radical economic stance. It could weaken the administration which has been a target of two destabilization plots since he took Malacañang by storm.
Moreover, public disapproval could adversely affect the family’s long-term plan embarking on continuity of Marcos political dominance.
Diokno’s replacement Ralph Recto is an equally intelligent and articulate person with an excellent legislative record both in the House of Representatives and the Senate, plus a one-year stint at the National Economic and Development Authority (NEDA).
However, Recto’s recent pronouncements tend to show that he won’t be pushing the unpopular tax agenda that made Diokno look like a villain.
What makes Recto an ideal chief economic manager is his being a politician. He has mastered the art of pleasing people and knows only too well that he is bound to serve the interest of a politician at the helm of Malacañang.
As a politician, the last thing the President needs is being mobbed by angry taxpayers. Like most politicians, his body language manifests a populist economic agenda, which may not sit well in the years to come.
As it is, the long-term economic prescription will have to take the backseat if only to calm down an angry mob.
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