Ex-BSP Gov. Medalla backs Stella Quimbo for Marikina mayor
Teacher Stella Quimbo joins hands with various labor groups in celebrating Labor Day, honoring the dedication and contributions of Filipino workers.
Former Bangko Sentral ng Pilipinas (BSP) Governor and former NEDA Director-General Felipe Medalla has expressed his strong support for Marikina Rep. Stella Quimbo’s mayoral bid, describing her “exceptional both intellectually and professionally.”
In a video released this week, Medella also addressed misinformation online regarding Quimbo’s wealth and integrity.
“She had money long before she became a politician. Even when she was still a professor, her consulting income was already substantial—more than her salary at the University of the Philippines (UP). She was highly skilled and respected in her field, which is why she earned well. There’s nothing wrong with someone enjoying a few luxuries from time to time. The fact that she owns a nice bag should not be held against her,” he said in Filipino.
Stella Quimbo at the inauguration of the Philippine Innovation Hub—an initiative she proudly championed.
“I find it very sad that when a man wears bling or an expensive watch, no one questions it. But when a woman carries a nice bag, it immediately becomes an issue. As far as I know, her integrity is quite high. I’m almost 100% sure she earned that herself,” he added.
Quimbo, a former full professor and faculty member of the UP School of Economics, has consistently ranked among the most effective legislators in Congress, championing economic reform, pandemic recovery, and health financing.
With one term remaining in Congress, many were surprised when she announced her candidacy for mayor of Marikina—but Quimbo was clear: Marikina cannot afford to fall into a debt trap.
According to Quimbo, the city faces ballooning liabilities that threaten basic services and long-term growth. With her background in economics, public finance, and policy-making, she believes she can play a critical role in restoring fiscal discipline while driving inclusive growth and innovation in the city.
“Good intentions are not enough if there is a lack of competence. Marikina needs a mayor who can serve as both a fiscal watchdog and an economic strategist. Someone who understands numbers, but more importantly, knows how to turn numbers into real programs for people,” she explained.
Supporters show their support for Stella Quimbo’s mayoral bid
Medalla agrees, highlighting her unique skill set.
“Stella is very analytical. She’ll know if a proposal is cost-effective or if it truly benefits the people. That’s important for a mayor—because leadership isn’t just about empathy. It also requires intelligence in managing money, budgeting, and long-term planning,” he said.
As Marikina confronts climate risks, economic recovery needs, and growing urban pressures, Medalla says the city will need more than promises—it needs leadership grounded in competence, credibility, and compassion.
“I may not be from Marikina, but I can honestly say to the people of Marikina: you are fortunate to have someone like Stella who wants to serve as your mayor,” he added.
Quimbo is currently serving her second term as congresswoman of Marikina’s 2nd district. She holds a doctorate in economics, was a former commissioner at the Philippine Competition Commission, and remains one of the few public officials in the country with deep expertise in fiscal policy and public finance.
Medalla, on the other hand, is one of the country’s most respected economists and public servants. He served as BSP governor from 2022 to 2023 and as socioeconomic planning secretary under the Aquino administration. He also spent decades as a professor and dean at the UP School of Economics, where he worked closely with Quimbo.
