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Senator seeks probe on new ‘wildlife’ banknotes
The Philippine Star
|December 22, 2024
Senate Minority Leader Aquilino Pimentel III is pushing for an investigation on the issuance of new polymer banknotes that feature the country's flora and fauna, doing away with the original paper notes with images of heroes and martyrs.
In an interview over dwIZ, Pimentel said the Bangko Sentral ng Pilipinas (BSP) has a lot of explaining to do about its redesign of banknotes instead of focusing on curbing inflation.
He assailed BSP's "crazy idea" of choosing "plastic" over paper money made of abaca and cotton.
Pimentel said he will file a resolution urging the Senate committee on banks, financial institutions and currencies to look into the matter.
"BSP should explain to lawmakers how much it spent for the redesign and the results of its trial run when it released the P1000 polymer notes in 2022," Pimentel said, adding that paper money is more practical to use than polymer.
He added the BSP should explain its shift to educating the public about flora and fauna from featuring the faces of former presidents, war heroes and martyrs.
Dit verhaal komt uit de December 22, 2024-editie van The Philippine Star.
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