 Although he was not eager to cling to his position in government, Buenaventura nonetheless stated that the stability of a fixed six-year term for a central bank governor was more important than the actual person sitting on the chair.Philippine governance was already under attack from the international community; it was seen not merely as unstable, but downright whimsical, depending on the mood of whoever was wielding the power at any given moment.Buenaventura thus refused to resign, even as a courtesy to the new president.