Why the secrecy in the printing of new currency?
By Neal Cruz Philippine Daily Inquirer First Posted 22:53:00 08/17/2010 Filed Under: Banking, Government VERY FEW people are aware of it, but we are going to have a new set of peso bills very, very soon. We may be giving our godchildren the new bills as gifts this Christmas. The present set of paper Philippine currency will be phased out. New coins will be issued later. The question is, why is the Bangko Sentral ng Pilipinas (BSP) doing this secretly and hastily? The nation is totally unaware of what will happen to their money or how the new money will look like. Malacañang, Congress and the Supreme Court did not know anything about it beforehand. The BSP claims that it is an independent entity and can do anything it wants. In other words, it is the fourth branch of government, a co-equal of the executive, legislative and judicial branches. To get a favorable reaction from President Aquino, the images of his parents, Ninoy and President Cory, will be in the P500 note. But no one, excep
