MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) appeared cautious about proposals to withdraw large-denomination peso bills from circulation as a potential deterrent to corruption.
Governor Eli Remolona Jr. warned that such a move could do more harm than good.
Speaking to reporters on Monday, Remolona said the idea is still under discussion, but emphasized the need to carefully weigh its possible consequences.
https://business.inquirer.net/552411/bsp-wary-of-proposal-to-phase-out-large-peso-bills