MANILA, Philippines — Former Prime Minister and Finance Minister Cesar E.A. Virata has passed away on Friday, October 2, according to an official disclosure by the Rizal Commercial Banking Corporation (RCBC).
At the time of his death, Virata held positions as the corporate vice chairperson and director of RCBC.
“It is with deep sorrow that the Bank announces the passing of Mr. Cesar E.A. Virata,” RCBC said in a disclosure.
The financial institution did not provide details regarding the cause of his death.
Virata served as prime minister of the Philippines from 1981 to 1986 under the administration of former President Ferdinand Marcos Sr. He also led the finance portfolio as secretary and minister from 1970 to 1986.
Throughout his career in public administration, Virata served on the Monetary Board of the Central Bank of the Philippines and chaired the finance committee of the Batasang Pambansa.
Additionally, he held leadership roles as chairman of the Board of Investments, Land Bank of the Philippines, and the Philippine National Bank.
On the international stage, Virata headed the joint Development Committee of the World Bank and the International Monetary Fund from 1976 to 1980.
Before entering public service, he worked as a professor and dean at the University of the Philippines College of Business Administration, and served as a principal in the Management Services Division of SyCip Gorres Velayo & Co.