Former central bank governor Buenaventura dies
"Taking over the BSP after the Asian currency crisis erupted in 1997, Buenaventura pursued tough banking reforms to help insulate the banking system from external shocks. He strongly espoused mergers and acquisitions, saying there should be only six major banks in the country, while others would still play a role as niche players," the article says.
"He was a staunch advocate of capital market development and persistently veered press briefings toward discussions on this topic, including the need for a fixed income exchange. For the media, he was a good source, unafraid to speak his mind on vital issues," it notes.
"He was also widely admired for his courage, professionalism and ability to transcend politics amid pressure, to assert constantly the independence of the BSP and consistently preserve its integrity as an institution, unencumbered by political bias."
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