Former finance chief Jayme passes away

MANILA, Philippines - The Department of Finance expressed its deepest condolences for the death of former Finance Secretary and founding member of National Citizens’ Movement for Free Elections (NAMFREL) Vicente “Ting” Jayme.

Finance Secretary Cesar Purisima offered a message of condolence to Jayme’s family.

Purisima recalled that as a pioneer in NAMFREL, Ting was one of the hardest fighters for good governance at a time when his country needed it the most. When he was appointed by President Aquino, Ting was a brilliant Finance Secretary whose legacy will be remembered as having steered the Philippines away from the brink of financial collapse. Current and future civil servants would do well to remember the prudence of his policy even in these times of relative plenty,” Purisima said.

Jayme served as Secretary of the Department of Finance in the cabinet of President Corazon “Cory” Aquino. Jayme also worked with the Federation of Free Workers, headed the Private Development Corp. (PDCP), and also served as president of the Philippine Chamber of Industries prior to his role as Finance Secretary.

Jayme was also one of the founders of NAMFREL, the organization that helped introduce non-partisan election monitoring in the Philippines. In addition, Jayme served as the executive director of the Asian Development Bank from 1990 to 1997.