Former BSP Gov Singson, 87

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Former central bank Governor Gabriel Singson died on Tuesday, March 29. He was 87.

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A lawyer, he graduated valedictorian and magna cum laude from the College of Liberal Arts, Ateneo de Manila University in the Philippines.

He also obtained his LLB degree, cum laude, from the Ateneo Law School and a Master of Law Degree from the University of Michigan Law School as Dewitt Fellow and Fulbright scholar.

Singson was the first Governor of the Bangko Sentral ng Pilipinas (BSP) following the abolition of the Central Bank of the Philippines.

Former President Fidel Ramos appointed Singson for the position after the signing of the Republic Act 7653, or New Central Bank Act, into law in 1993.

He served the BSP from July 6, 1993 to July 5, 1999.

Singson helped steer the Philippine financial system during the 1997 East Asian Financial Crisis, according to the BSP.

“During Governor Singson’s watch, the impact of the Asian financial crisis on the Philippines was relatively mild as good economic fundamentals and earlier reinforcements on the banking system contained the economic fallout,” the central bank said in a statement.

Singson has also served different executive positions of various companies.

He was the recipient of the 1998 Management Man of the Year conferred by the Management Association of the Philippines.

He was also selected by Asiamoney, a major regional magazine tracking the financial and business sector, as “Central Bank Governor of the Year” twice, in May 1996 and in May 1997, for his steady control of monetary policy against difficult odds, as well as for his independence.

The cause of Singson’s death was not disclosed.

His wake will be held from 6 p.m. Tuesday at the Heritage Park in Taguig City.

In memoriam, the BSP will hold a Requiem Mass and necrological service on Wednesday, March 30 from 12:30 p.m. to 3:30 p.m. at the BSP Assembly Hall, BSP Complex, Malate, Manila.

His interment is scheduled on Friday, April 1, at the Heritage Park.

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1 Comment

  1. With the change of the name from Central Bank to Bangko Sentral, whatever happened to those gold assets booked as assets of the Central Bank that were used as back up in the printing of those Ang Bagong Lipunan Notes during the time of Mr. Marcos? Note that no country can print their currency Notes without a gold back up.