RENOWNED central banker Gabriel C. Singson, who passed away Tuesday at the age of 87, spent the last years of his career preparing the country to exit the controversial “guidance” of the International Monetary Fund and assert Philippine economic independence.
Singson, who was the first governor of the restructured Bangko Sentral ng Pilipinas from 1993 to 1999, finally signed off on the completion of the country’s last IMF extended funding facility in 1997 after 35 years under the fund’s tutelage.
‘’This is what we’ve been waiting for and what we’ve been working for during the last three years,’’ Singson said in 1997. ‘’This will give the international community more confidence on the Philippines.’’
For the policies and reforms he implemented toward the country’s exit from the IMF, Singson was twice selected by Asiamoney as Central Bank Governor of the Year.
He is also credited for the relatively mild impact of the 1997 Asian financial crisis on the Philippines.
After retiring from government service, Singson served as president of JG Summit Capital Markets Corp. and senior adviser of JG Summit Holdings Inc.
Singson graduated valedictorian and magna cum laude from the College of Liberal Arts, Ateneo de Manila University. He earned his Master of Law Degree from the University of Michigan Law School as Dewitt Fellow and Fulbright scholar.
Upon learning of his death before dawn Tuesday, Malacañang mourned the death of Singson and again praised the central banker as having “served the nation exemplarily… He laid the foundations for a more stable banking and financial system.”
The BSP will hold a requiem mass and necrological service at 12:30 p.m. to 3:30 p.m. of Wednesday at the BSP Complex in Malate, Manila.
His interment is scheduled for Friday at the Heritage Park in Taguig City.