President Ferdinand "Bongbong" Marcos Jr. on Tuesday ended rumors that Finance Secretary Benjamin Diokno will be replaced by Albay Representative Joey Salceda.
Marcos immediately blasted as "fake news" the alleged changes in leadership in the Finance Department.
"I don't know where that comes from. Why would I do that? We have assembled a great team," he told reporters in a chance interview at the Philippine International Convention Center in Pasay City.
"Also, we're trying to go down a certain direction. It's wrong — it's a very, very poor time to, as I say, change horses in midstream," he added.
The President was in the PICC to grace the 49th founding anniversary of the Career Executive Service Board.
Meanwhile, Diokno, who also heads Marcos's economic team, has earlier downplayed that he will be replaced, citing his "good relationship" with the President.
In an ambush interview on Tuesday, Diokno stressed that he would rather focus on "what's good for the greatest number of people."
Salceda, chairperson of the House Ways and Means, blasted as "pointless speculation" a report that he was being considered to replace Diokno.
In a message to reporters, Salceda emphasized that he "does not covet the job."
"I like how I am able to move fiscal policy from my seat in Congress. No offer to me, and no interest on my part," he said.
"In this particular case, it's no longer speculation. PBBM himself has clarified it. Media would have saved a lot of time by believing my denials yesterday," he added.
Both Diokno and Salceda said they are both good friends, with the former saying they are part of a group called "Friday Friends Forever" or FFF.
Rumors started about Diokno's alleged replacement when a news website published a report stating that the President was allegedly seeking to place Salceda as the new Finance chief vice Diokno.
Prior to becoming Finance Secretary, Diokno was central bank chief from 2019 to 2022.
Diokno has served as Budget Secretary under two different administrations of presidents Joseph Estrada, and Rodrigo Duterte.