“Minister Virata devoted his life to public service and to strengthening the Philippine economy and financial system,” Lim said in a text message on Friday.
“For the Philippine capital market, his legacy is especially enduring,” he added.
He credited Virata, an incorporator of the Philippine Stock Exchange and a leading proponent of the country’s fixed-income trading platform, with helping build a deeper and more resilient capital market.
Virata, who passed away at 95, served as prime minister, finance minister, Board of Investments chair and a member of the Monetary Board.
“[H]e helped establish institutions and market infrastructure that have supported the development of a deeper, more modern, and more resilient capital market,” Lim said.
“His contributions reached beyond policy and government—they helped shape the financial institutions and markets that continue to serve the Philippine economy today,” he added.
—Edited by Miguel R. Camus
