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Demonetizing not a good idea
The Freeman
|October 22, 2025
One of the most unforgettable pieces of evidence presented of ill-gotten wealth from corruption in the flood-control projects was a photograph of wads upon wads upon wads of P1,000 bills arranged like blue building blocks on top of a table in a DPWH regional office.
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Yes, we all saw it; a physical representation of the wealth that most of us will never earn in our lifetime, or even two or three, and the insatiable greed of some people.
This led to proposals to demonetize P1,000 and P500 bills to curb corruption; they assume it will make it inconvenient for contractors to pay government officials or politicians if they don't have P1,000 and P500 bills.
Sure, it sounds like a good idea, but the way we see it, it will be the public and those who don't engage in corruption who will be more inconvenienced by such a move.
Denne historien er fra October 22, 2025-utgaven av The Freeman.
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