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Arroyo announces new finance secretary, executive secretary.

MANILA, May 16 Kyodo

Philippine President Gloria Macapagal-Arroyo announced Wednesday the appointment of Energy Secretary Jose Isidro Camacho as the new finance secretary effective June 15 to replace Alberto Romulo, who has been named executive secretary.

Arroyo announced the cabinet reshuffle during a live video conference with participants of the Credit Lyonaise S.A. Investors Forum in Hong Kong.

''We are going to have a changing of the guard soon due to the illness of my Executive Secretary Renato de Villa. Secretary Romulo is moving over to be my new executive secretary and the new finance chief will be Secretary Camacho,'' Arroyo said.

Camacho, an international investment banker for the past 22 years, was appointed to his first government job as the head the Department of Energy on March 1.

The new finance chief, who holds a master's degree in business administration from the Harvard Business School, was formerly the managing director and chief country officer for the Philippines of Deutsche Bank.

Romulo is a former senator, former budget secretary and a political ally of Arroyo.
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Publication:Japan Policy & Politics
Date:May 21, 2001
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