 Removing the incumbent central bank chief would have added uncertainty in an already jittery market, so Buenaventura promptly turned down the offer.Estrada, upon assuming office, opted to allow Singson to serve out the remainder of his six-year term.Buenaventura was offered various positions in government but politely declined them all until 1999, when Estrada once again offered him the position as BSP chief, in anticipation of Singson's end-of-term departure.