Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. passed away Saturday evening, a month after returning to work following an extended leave to undergo treatment for tongue cancer. He was 60.
Espenilla’s demise was confirmed by multiple sources, including a number from the central bank. Appointed BSP chief in 2017 and credited for initiating monetary reforms, Espenilla was diagnosed with the disease in February of 2018.
Under him, the country’s Monetary Board raised the interest benchmark to 1.75 points. To the end, Espenilla pushed for the mainstreaming of the electronic payment system.
The 4th BSP governor who took the place of Amado Tetangco Jr surprised the business and banking communities when he resumed working last month after intensive radiation therapy.
“I just have to hang on,” Espenilla had said in resuming work.
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