Oliver 18 0 0 4 min to read

Marcos affirms his commitment to using public funds for the benefit of Filipinos.

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On Wednesday, President Ferdinand R. Marcos Jr. reaffirmed his commitment to using public funds for initiatives that will better the lives of Filipinos.

He said this during a ceremony at Malacanang Palace where the Bangko Sentral ng Pilipinas (BSP) unveiled new coin series and banknotes with his signature.

In his speech, he stated that it was the administration’s aim to make sure that all Filipinos benefited from every peso and centavo the government spent on its initiatives and programs.

In order to ensure that the public interest remains at the center of the government’s initiatives, Marcos urged the BSP and other relevant agencies to step up their efforts to combat counterfeiting and other unlawful activities, ensure price stability, enrich banking reforms, and sharpen tactics.

He urged government organizations and the people of the Philippines to develop innovative, long-lasting solutions that will improve lives and alleviate the load on the populace.

Marcos reiterated his call for cooperation to strengthen the security and effectiveness of the Philippine financial system.

He assured all of our BSP officials and their staff of his unwavering support and expressed entire faith in their skill, knowledge, and moral character.

In the midst of safety worries brought on by the current Covid-19 outbreak, Marcos applauded the release of the new polymer banknote, which he characterized as “smarter, cleaner, and stronger.”

According to him, the new banknotes also support environmental sustainability and honor the nation’s extensive natural and cultural history.

As the nation switches to using plastic money, Marcos repeated calls for more awareness of how to handle polymer banknotes.

Complex security features include sampaguita clear windows, serial numbers, shadow threads, vertical clear windows, metallic features, blue iridescent figures, polymer substrates, tactile dots, embossed prints, soaring eagles, and improved value panels on the plastic money.

According to the BSP, polymer banknotes are less likely to transmit viruses and bacteria and may be cleaned without running the risk of being harmed.

Due to their manufacture requiring less water, energy, and other resources, they also leave a reduced carbon footprint. Additionally, it can be recycled into other useful things like compost bins, building materials, furniture, and other home goods.

Given their resilience to water, oil, dirt, and normal wear and tear, the new banknotes endure 2.5 to 5 times longer than paper banknotes.

Cebuano Cebuano English English Filipino Filipino

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