US EditionGovt Reshuffle as New Finance Minister to Be Named
President Marcos accepted resignations linked to flood control corruption; Ralph Recto and Frederick Go were appointed Executive and Finance Secretaries respectively.
- On Monday, November 17, President Bongbong Marcos accepted the resignations of Executive Secretary Lucas P. Bersamin and Budget Secretary Amenah F. Pangandaman, appointing Ralph G. Recto executive secretary and Federick D. Go finance secretary.
- Their resignations came after both officials tendered them 'out of delicadeza' following allegations linking their departments to the flood control corruption scandal under investigation.
- To ensure continuity, DBM Undersecretary Rolando U. Toledo was assigned officer in charge at the Department of Budget and Management to keep operations running ahead of next year's budget rollout, Palace press officer Claire Castro said.
- The reshuffle represents the biggest Cabinet shake-up since the multibillion-peso flood control scandal, with Ralph G. Recto moving to executive secretary and Federick D. Go taking over the Department of Finance.
- Ralph G. Recto said his economic legislation background positions him to oversee operations, citing Philippine economy growth 4.7% this year, a real interest rate of 3.3%, and a fiscal deficit target of 5.5% in 2025 easing to 3.1% by 2030.
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Go named as Finance chief, Recto as executive secretary - BusinessWorld Online
By Chloe Mari A. Hufana and Aubrey Rose A. Inosante, Reporters PHILIPPINE PRESIDENT Ferdinand R. Marcos, Jr. on Monday appointed Finance Secretary Ralph G. Recto as the new executive secretary and economic czar Frederick D. Go to take over the Finance department, marking the biggest Cabinet shake-up since the eruption of the multibillion-peso flood control scandal. “These leadership changes reinforce the President’s commitment to strengthening i…
Lucas Bersamin, Amenah Pangandaman resign from their posts
Here are today’s headlines – the latest news in the Philippines and around the world: Bersamin, Pangandaman resign; Recto appointed executive secretary Malacañang announces in a last-minute press conference that Executive Secretary Lucas Bersamin and Budget Secretary Amenah Pangandaman resigned. Finance Secretary Ralph Recto will replace Bersamin as executive secretary, while Frederick Go will succeed Recto at the Department of Finance. Amal C…
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