Major Shake-Up in Malacañang: What Recto & Go’s New Roles Mean for Filipinos—and the Peso
President Ferdinand R. Marcos Jr. formally administered the oath of office to Acting Executive Secretary Ralph Recto and Finance Acting Secretary Frederick Go on Wednesday in Malacañang—marking one of the most significant Cabinet adjustments of the year and signaling a broader push toward institutional accountability and economic stability.
The appointments come just two days after the President accepted the “out-of-delicadeza” resignations of Executive Secretary Lucas Bersamin and Budget Secretary Amenah Pangandaman, both of whom stepped down amid ongoing investigations involving alleged anomalies in flood control projects.
Palace Press Officer Claire Castro emphasized that Bersamin and Pangandaman vacated their posts voluntarily to give the administration “full latitude” to address questions raised in the investigation and uphold the integrity of their respective offices.
Recto Steps In: Stability and Reform Experience at the Center
Ralph Recto, a seasoned public official and former Finance Secretary, will now oversee the Office of the President’s day-to-day operations. His portfolio spans fiscal reform, national development planning, economic legislation, and long-term strategic governance—making him a powerful stabilizing force during a politically sensitive time.
His mandate includes:
Strengthening inter-agency coordination
Supporting the administration’s high-impact infrastructure and social programs
Ensuring operational efficiency and policy cohesion at the highest levels of government
Recto’s decades of experience in economic governance are expected to help navigate both immediate administrative concerns and larger national policy challenges.
Go Takes Over Finance: What It Means for Markets and Investors
Frederick Go, formerly Special Assistant to the President for Investment and Economic Affairs, will now lead the Department of Finance (DOF). His appointment has been met with cautious optimism from local and foreign investors, given his proven track record in:
Consolidating investment pipelines
Increasing inter-agency coordination for major economic initiatives
Supporting investor confidence amid global volatility
Malacañang credited Go with pushing reforms that align government investment priorities, attracting foreign capital, and enhancing the country’s macroeconomic competitiveness.
As Finance Chief, Go now faces the enormous tasks of:
Managing national debt
Steering fiscal strategy
Maintaining currency stability
Strengthening the Philippines’ investment environment
Why Filipinos Should Pay Attention: Stability, Governance, and Accountability
Leadership changes in high-level government positions are not just political events—they directly affect:
Budget Allocation & Public Services
New oversight at the Office of the President and DOF can influence how projects are approved, how funds are released, and how national priorities shift.
Inflation & Cost of Living
The DOF plays a major role in fuel taxes, import policies, and fiscal programs that impact everyday prices.
Government Credibility & Transparency
The resignations—framed as acts of delicadeza—reflect an attempt to reinforce clean governance and restore public trust amid allegations of budget irregularities.
Investor Confidence & Job Creation
Foreign investors watch for signs of transparency and stability. Leadership changes signal how the administration responds to issues and how committed it is to reforms.
In short, good governance affects everyone, from the price of rice to job availability to long-term national development.
Why This Matters in Forex: Leadership Shifts Influence the Peso
Cabinet changes—especially involving the Department of Finance—tend to have measurable effects on currency behavior, making this development important for Forex traders.
Key FX Implications:
Market Sentiment Toward the Philippine Peso (PHP)
Political stability and clear fiscal direction often strengthen a currency; uncertainty can weaken it.
Traders will be watching how USD/PHP reacts to these changes.
Fiscal Policy Direction Influences Currency Strength
Investors look for consistency. A credible, competent Finance Secretary improves the outlook for the peso.
Foreign Investment Flow Affects Forex Markets
More investments → stronger PHP.
Capital outflows → weaker PHP.
Budget Investigation Impact
Any disruption in government operations—especially concerning infrastructure spending—can cause short-term volatility in the peso.
For Forex traders, this is not just a political update—it is a fundamental catalyst that may affect the movement of PHP pairs such as USD/PHP, EUR/PHP, and JPY/PHP in the coming weeks.
Final Thoughts
The appointment of Ralph Recto and Frederick Go marks a major recalibration within the Marcos administration—one that blends experience, accountability, and economic leadership at a critical moment.
For everyday Filipinos, this shift affects governance, public spending, transparency, and the broader economy.
For traders, especially in the Forex market, leadership transitions at the DOF can influence sentiment, capital flow, and currency strength.
As investigations continue and new policy directions emerge, both citizens and investors will be watching these leaders closely.
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