MANILA - Bangko Sentral ng Pilipinas Governor Felipe Medalla is set to finish his term in July, which is the unexpired term of his predecessor Benjamin Diokno, who was appointed as Finance Secretary.

There are some talks among the business community as well as economic reporters as to who will be the next BSP Governor. The governor holds a very powerful position, not just in the banking sector, but the Philippine economy as well. The Governor’s signature is also seen on the paper bill of the Philippines and he or she is usually the highest paid government official in the country.

When asked if Diokno will return to his old post. He said, “I’ll stay.” He then added: "It’s up to the president."

Diokno also revealed that he gave the president a recommendation, but was mum on who it is. He told reporters that he has three criteria for the post. “Government of central bank should not be an ex-banker,” Diokno said.

He added, “You really have to be a professional economist. And you have to have an international stature.”

Medalla is still up for contention. Out of seven Monetary Board members, four will soon end their term, unless they are reappointed or appointed as governor. They are Medalla, Peter Favila, Antonio Abacan Jr. , and Eli Remolona.

Only V. Bruce Tolentino, Anita Linda Aquino, and Diokno as Finance Secretary will stay.