The Market Monitor Minding the Nation's Business
Gabriel C. Singson, one of the most amiable governors of the Bangko Sentral ng Pilipinas (BSP), died on Mar. 29 at the age of 87.
Singson was BSP governor from July 6, 1993 to July 5, 1999, making him the first to occupy the position after the New Central Bank Act was signed into law in 1993.
He helped steer the Philippine financial system during the 1997 East Asian financial crisis.
Singson was named Management Man of the Year in 1998 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 May 1997—for his steady control of monetary policy against difficult odds, as well as for his independence.
During 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 BSP held a Requiem Mass and necrological service last Mar. 30 before his body was interred on Apr. 1 at the Heritage Park, Bonifacio Global, Bayani Road, Taguig City.