Central bank chief to resign

Central bank chief to resign

MANILA (AFP): Central Bank of the Philippines governor Gabriel
Singson on Saturday offered to resign after some legislators said
they would investigate him for failing to halt the fall of the
peso against the dollar.

"If they want I will resign. We will have to look for a
miracle worker who can do a miracle to solve this problem. Gladly
I will give way," Singson said in a radio interview.

"If there is one who can solve the problem ... let him come to
me and I will bring him to President (Fidel) Ramos. I will tell
President Ramos 'here I have found a miracle worker,'" he added.

Some congressmen have called on Singson to resign after the
Philippine currency plunged to new lows of 46.50 pesos to the
dollar last week. They accused the central bank chief of "doing
nothing" to halt the slide.