Posted in: Press Releases- Oct 03, 2016 No Comments

Former World Bank senior economist Karl Kendrick Chua was sworn into office yesterday (Sept. 28) as the new undersecretary for strategy and chief economist of the Department of Finance (DOF).

In simple rites at the DOF central office in Manila, Finance Secretary Carlos Dominguez III administered the oath of office to Chua, whose key responsibilities include leading the preparation of economic policy research in aid of priority reforms, and shepherding these from incubation to implementation.

Also taking his oath before the finance chief was Ray Gilbert Espinosa as director of the Revenue Integrity Protection Service, the office that spearheads the DOF’s anti-corruption efforts.

Chua, who was the senior country economist of the World Bank for the Philippines, is also tasked to provide strategic advice to the finance secretary and the Cabinet Economic Development Cluster.

He completed his MA in economics in 2003 and PhD in economics in 2011 at the University of the Philippines School of Economics where he specialized in fiscal policy and tax administration.

Prior to joining the World Bank, Chua was assistant professorial lecturer of mathematics and economics at the Ateneo de Manila University and was consultant for several local and development partner-funded projects. His first job was in Andersen Consulting/Accenture as a systems analyst.

Espinosa, who has been practicing law for 12 years now, used to be a member of the Litigation Group of the PECABAR Law Offices. He entered the government service in 2009 as Assistant City Prosecutor in Quezon City.

Earlier, Dominguez swore into office nine other top officials of the Department led by Undersecretaries Gil Beltran, Karen Singson, Antonette Tionko and Bayani Agabin.

Beltran, who used to be the DOF’s chief economist, now heads the Corporate Affairs Group (CAG) and Policy Development and Management Service Group. He was also appointed earlier by Dominguez as the DOF’s anti-red tape czar.

Singson heads the Privatization Group and is concurrent Chief of Staff; Tionko leads the Revenue Operations Group (ROG); and Agabin heads Legal Affairs and is in charge of the Domestic Finance Group (DFG).

Dominguez had also administered the oaths of office to Assistant Secretaries Soledad Emilia Cruz of the DFG; Mark Dennis Joven of the ROG; and Daniel Marie Rieza Culangen, Director IV of the ROG.

He had also sworn in Ma. Lourdes Recente, who is now Executive Director of the Privatization and Management Office (PMO), and Assistant Secretary Ma. Edita Tan who is now still with the IFG.



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