 Buenaventura would later explain that he and his siblings had made a promise to their late father that none of them would ever work in government.It was only after persistent convincing from Estrada himself and then finance secretary Jose Trinidad Pardo, a close adviser of the president and friend to Buenaventura himself, that Buenaventura was ultimately persuaded to accept the appointment to take over the BSP.Two months before Singson's term ended, Buenaventura's appointment as central bank governor was announced by Estrada; and when his PCIB contract ended in June that year, he elected not to renew.