Cesar Virata, Philippine prime minister under Marcos, dies at 95

Cesar Virata, the Philippines’ former prime minister and longest-serving finance chief, has died at the age of 95, his family announced on Friday, October 2.

Virata died of natural causes, his family said in a statement. “A long-serving technocrat and statesman, Virata served as minister of finance from 1970 to 1986 and as prime minister from 1981 to 1986, playing a central role in shaping Philippine economic policy and international financial relations over two decades,” the family said (Philstar).

His death was also announced by Rizal Commercial Banking Corp. (RCBC), where he had served as a director since 1995 and as corporate vice chairperson for 26 years, in a statement carried by BusinessMirror.

A technocrat under President Ferdinand Marcos Sr., Virata held the finance portfolio for 16 years, spanning the martial law era, and also represented the Philippines as governor at the World Bank and the Asian Development Bank (GMA News).

Malacañang extended condolences to the family, with Executive Secretary Ralph Recto saying Virata’s impact “can be traced across some of the defining chapters of the country’s modern economic history”.

Virata is survived by his wife, Phylita Joy Gamboa Virata; his children, Steven, Gillian and Michael; his grandchildren, Enzo, Danni, Xavi and Diego; and his great-grandchildren, Coco and Sierra (BusinessWorld).