January 23, 2018, 5:27 pm
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1 Philippine Peso = 0.07248 UAE Dirham
1 Philippine Peso = 2.15117 Albanian Lek
1 Philippine Peso = 0.03513 Neth Antilles Guilder
1 Philippine Peso = 0.37432 Argentine Peso
1 Philippine Peso = 0.02466 Australian Dollar
1 Philippine Peso = 0.03513 Aruba Florin
1 Philippine Peso = 0.03947 Barbados Dollar
1 Philippine Peso = 1.63391 Bangladesh Taka
1 Philippine Peso = 0.0315 Bulgarian Lev
1 Philippine Peso = 0.00743 Bahraini Dinar
1 Philippine Peso = 34.55654 Burundi Franc
1 Philippine Peso = 0.01974 Bermuda Dollar
1 Philippine Peso = 0.02619 Brunei Dollar
1 Philippine Peso = 0.13539 Bolivian Boliviano
1 Philippine Peso = 0.06307 Brazilian Real
1 Philippine Peso = 0.01974 Bahamian Dollar
1 Philippine Peso = 1.25863 Bhutan Ngultrum
1 Philippine Peso = 0.19114 Botswana Pula
1 Philippine Peso = 395.1056 Belarus Ruble
1 Philippine Peso = 0.03943 Belize Dollar
1 Philippine Peso = 0.02465 Canadian Dollar
1 Philippine Peso = 0.01899 Swiss Franc
1 Philippine Peso = 11.98717 Chilean Peso
1 Philippine Peso = 0.12629 Chinese Yuan
1 Philippine Peso = 56.09039 Colombian Peso
1 Philippine Peso = 11.14821 Costa Rica Colon
1 Philippine Peso = 0.01974 Cuban Peso
1 Philippine Peso = 1.78074 Cape Verde Escudo
1 Philippine Peso = 0.40983 Czech Koruna
1 Philippine Peso = 3.49517 Djibouti Franc
1 Philippine Peso = 0.12017 Danish Krone
1 Philippine Peso = 0.94356 Dominican Peso
1 Philippine Peso = 2.24754 Algerian Dinar
1 Philippine Peso = 0.25256 Estonian Kroon
1 Philippine Peso = 0.34873 Egyptian Pound
1 Philippine Peso = 0.537 Ethiopian Birr
1 Philippine Peso = 0.01614 Euro
1 Philippine Peso = 0.03952 Fiji Dollar
1 Philippine Peso = 0.01423 Falkland Islands Pound
1 Philippine Peso = 0.01424 British Pound
1 Philippine Peso = 0.08955 Ghanaian Cedi
1 Philippine Peso = 0.95481 Gambian Dalasi
1 Philippine Peso = 177.50149 Guinea Franc
1 Philippine Peso = 0.14478 Guatemala Quetzal
1 Philippine Peso = 4.06335 Guyana Dollar
1 Philippine Peso = 0.15424 Hong Kong Dollar
1 Philippine Peso = 0.4645 Honduras Lempira
1 Philippine Peso = 0.11993 Croatian Kuna
1 Philippine Peso = 1.2536 Haiti Gourde
1 Philippine Peso = 4.98796 Hungarian Forint
1 Philippine Peso = 262.6801 Indonesian Rupiah
1 Philippine Peso = 0.06734 Israeli Shekel
1 Philippine Peso = 1.2595 Indian Rupee
1 Philippine Peso = 23.36688 Iraqi Dinar
1 Philippine Peso = 722.49855 Iran Rial
1 Philippine Peso = 2.02684 Iceland Krona
1 Philippine Peso = 2.44306 Jamaican Dollar
1 Philippine Peso = 0.01395 Jordanian Dinar
1 Philippine Peso = 2.18305 Japanese Yen
1 Philippine Peso = 2.02388 Kenyan Shilling
1 Philippine Peso = 1.36803 Kyrgyzstan Som
1 Philippine Peso = 79.05665 Cambodia Riel
1 Philippine Peso = 8.11131 Comoros Franc
1 Philippine Peso = 17.76199 North Korean Won
1 Philippine Peso = 21.05013 Korean Won
1 Philippine Peso = 0.00592 Kuwaiti Dinar
1 Philippine Peso = 0.01618 Cayman Islands Dollar
1 Philippine Peso = 6.40616 Kazakhstan Tenge
1 Philippine Peso = 163.40439 Lao Kip
1 Philippine Peso = 29.70989 Lebanese Pound
1 Philippine Peso = 3.03631 Sri Lanka Rupee
1 Philippine Peso = 2.51372 Liberian Dollar
1 Philippine Peso = 0.24018 Lesotho Loti
1 Philippine Peso = 0.06017 Lithuanian Lita
1 Philippine Peso = 0.01225 Latvian Lat
1 Philippine Peso = 0.02645 Libyan Dinar
1 Philippine Peso = 0.1822 Moroccan Dirham
1 Philippine Peso = 0.33221 Moldovan Leu
1 Philippine Peso = 0.99072 Macedonian Denar
1 Philippine Peso = 26.54431 Myanmar Kyat
1 Philippine Peso = 47.6416 Mongolian Tugrik
1 Philippine Peso = 0.15887 Macau Pataca
1 Philippine Peso = 6.94691 Mauritania Ougulya
1 Philippine Peso = 0.64535 Mauritius Rupee
1 Philippine Peso = 0.3059 Maldives Rufiyaa
1 Philippine Peso = 14.08092 Malawi Kwacha
1 Philippine Peso = 0.36718 Mexican Peso
1 Philippine Peso = 0.07768 Malaysian Ringgit
1 Philippine Peso = 0.24178 Namibian Dollar
1 Philippine Peso = 7.06532 Nigerian Naira
1 Philippine Peso = 0.6045 Nicaragua Cordoba
1 Philippine Peso = 0.15516 Norwegian Krone
1 Philippine Peso = 2.01397 Nepalese Rupee
1 Philippine Peso = 0.02711 New Zealand Dollar
1 Philippine Peso = 0.00759 Omani Rial
1 Philippine Peso = 0.01974 Panama Balboa
1 Philippine Peso = 0.06337 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.17782 Pakistani Rupee
1 Philippine Peso = 0.06737 Polish Zloty
1 Philippine Peso = 110.75588 Paraguayan Guarani
1 Philippine Peso = 0.07183 Qatar Rial
1 Philippine Peso = 0.07523 Romanian New Leu
1 Philippine Peso = 1.11021 Russian Rouble
1 Philippine Peso = 16.49398 Rwanda Franc
1 Philippine Peso = 0.07401 Saudi Arabian Riyal
1 Philippine Peso = 0.15294 Solomon Islands Dollar
1 Philippine Peso = 0.26317 Seychelles Rupee
1 Philippine Peso = 0.13811 Sudanese Pound
1 Philippine Peso = 0.15903 Swedish Krona
1 Philippine Peso = 0.02605 Singapore Dollar
1 Philippine Peso = 0.01423 St Helena Pound
1 Philippine Peso = 0.43825 Slovak Koruna
1 Philippine Peso = 150.5822 Sierra Leone Leone
1 Philippine Peso = 11.09138 Somali Shilling
1 Philippine Peso = 395.67793 Sao Tome Dobra
1 Philippine Peso = 0.17269 El Salvador Colon
1 Philippine Peso = 10.16341 Syrian Pound
1 Philippine Peso = 0.24082 Swaziland Lilageni
1 Philippine Peso = 0.62838 Thai Baht
1 Philippine Peso = 0.04813 Tunisian Dinar
1 Philippine Peso = 0.04392 Tongan paʻanga
1 Philippine Peso = 0.07512 Turkish Lira
1 Philippine Peso = 0.1331 Trinidad Tobago Dollar
1 Philippine Peso = 0.57902 Taiwan Dollar
1 Philippine Peso = 44.22736 Tanzanian Shilling
1 Philippine Peso = 0.56937 Ukraine Hryvnia
1 Philippine Peso = 71.46241 Ugandan Shilling
1 Philippine Peso = 0.01974 United States Dollar
1 Philippine Peso = 0.56325 Uruguayan New Peso
1 Philippine Peso = 160.3513 Uzbekistan Sum
1 Philippine Peso = 0.19686 Venezuelan Bolivar
1 Philippine Peso = 447.97712 Vietnam Dong
1 Philippine Peso = 2.03691 Vanuatu Vatu
1 Philippine Peso = 0.0496 Samoa Tala
1 Philippine Peso = 10.5818 CFA Franc (BEAC)
1 Philippine Peso = 0.05329 East Caribbean Dollar
1 Philippine Peso = 10.49813 CFA Franc (BCEAO)
1 Philippine Peso = 1.92441 Pacific Franc
1 Philippine Peso = 4.9329 Yemen Riyal
1 Philippine Peso = 0.24034 South African Rand
1 Philippine Peso = 102.41761 Zambian Kwacha
1 Philippine Peso = 7.14229 Zimbabwe dollar

Anti-poverty program needs refinements

THE AQUINO administration declared the Pantawid Pamilyang Pilipino Program (4Ps), a conditional cash transfer (CCT) scheme that provides direct financial support to the country’s poorest families, as its key anti-poverty program at the start of its term.

The 4Ps, which is administered by the Department of Social Welfare and Development (DSWD), provides financial support to the poorest households, for health and educational concerns.

According to the DSWD’s accomplishment data, the expansion of the 4Ps, which was meant to cover more families and link 4Ps to other social protection programs such as health and scholarships, has led to the coverage of 4.48 million households in 2014.

This is more than four times the one million households covered in 2010.

However, despite the successful implementation of the CCT, poverty incidence among Filipino individuals in the first half of 2014 rose to 25.8 percent and among Filipino families to 20 percent.

Data from the Philippine Statistics Authority’s Annual Poverty Indicators Survey showed that poverty incidence among Filipino individuals rose by 1.2 percentage points in the first semester of 2014 from the 24.6 percent registered in the first half of 2013. 

Also, among Filipino families, poverty incidence increased by 1.1 percentage points in the first semester of 2014 from 18.8 percent in the same period in 2013.

The National Economic and Development Authority earlier said that the rapid rise in food prices, particularly of rice, and the lingering effects of Typhoon Yolanda in the first half of 2014 elevated poverty incidence among Filipino individuals.

During the first semester of 2014, a family of five needed at least P6, 125 on the average every month to meet the family’s basic food needs and at least P8,778 on the average every month to meet both basic food and non-food needs.

The government aimed to reduce the poverty rate by around two percentage points every year to meet the Millennium Development Goal of cutting the poverty figure into half by 2015.

The poverty incidence should be lowered to 16.6 percent by 2015, half the 33.1 percent poverty figure in 1991.

The government has yet to release the poverty figures for 2015.

“Considering that the number of poor families increased from 18.8 percent in 2013 to 20 percent in 2014 despite the 4Ps implementation, government efforts should focus on reaching more of the poor, providing them with greater safety nets, and continuously linking 4Ps beneficiaries to other programs that can bring them to self-sufficiency,” the Department of Budget and Management said in its published People’s Proposed Budget for 2016.

Under the program, the families can qualify for a maximum monthly support of P1,400. P500 per month will be allocated for meeting health conditions, while P300 per child per month will be allocated for educational conditions.
A maximum of three children per family can avail of the cash transfer.

The families availing of the program must meet a number of conditions in order to receive the cash transfers. Pregnant women must receive pre-natal and post-natal care and parents must attend Family Development Sessions. 

Children under five years old must also receive regular preventive health checkups and vaccinations, while children in elementary school must receive deworming treatment at least twice a year.

Children must be enrolled in school, and have an attendance rate of at least 85 percent.

The government’s Socioeconomic Report 2014 also showed that the Modified CCT registered low accomplishment rates due in part to the transition of eligible MCCT beneficiaries, particularly the challenges of the ongoing registration of homeless street families and indigenous people in geographically isolated and disadvantaged areas.

The MCCT covers 152,680 households, and these are the homeless and street families and indigenous people households in geographically isolated and disadvantaged areas who are not covered by the regular conditional cash transfer program.

A publication released by the Asian Development Bank last year also said that the value of the cash grants under the Aquino administration’s CCT program has eroded significantly in real terms, and has declined as a share of poor households’ average income.

According to the ADB Social Protection Brief titled, The Social Protection Support Project in the Philippines, policy and operational challenges in the CCT program include adjusting the benefit levels to account for inflation, and ensuring sufficient and high quality education and health services.

The report however said that while there has been an increase in the national poverty incidence recently, it is not an indicator that the CCT is not working.

“The poverty incidence may have been worse without the CCTs given the impact of catastrophic natural disasters and food price inflation in 2013,” the publication said.

“The reduction of poverty and inequality are long-term impacts that can only be expected when healthier and more educated Pantawid children grow up to join the work force and get better jobs. The grant alone is not enough
to bring many families over the poverty line, though it does reduce the income gap,” it added.

In relation to this, the World Bank earlier said that the 4Ps has reduced national poverty incidence and food poverty incidence in the Philippines by up to 1.4 percentage points.

Ruslan Yemtsov, World Bank Lead Technical Expert on Social Safety Nets, previously said the Philippines’ poverty incidence could have been worse without the conditional cash transfer program.

Yemtsov said that poverty among beneficiaries alone diminishes by up to 6 to 7 percentage points, equivalent to 1.3 million Filipinos.

“The Philippines 4Ps has expanded rapidly. It has reached this level at a very fast pace, that no other country has achieved,” Yemtsov said.

“The poor and vulnerable in the Philippines benefit from what is today one of the largest and best-targeted social safety net programs in the world,” he added.

Yemtsov said that 82 percent of the benefits of the Philippines’ CCT program goes to the bottom 40 percent of the Philippine population comprising the country’s poor households, as well as those that are highly vulnerable to poverty.  

“Poverty in the Philippines is a dynamic phenomenon and many households move in and out of poverty during the year due to factors like calamities, droughts, or the advent of the lean seasons,” Yemtsov said.

For this year, the DBM said that the regular CCT will have a budget of P59.38 billion to support 4.4 million poor households.

Of this budget, about P5.2 billion will support the education of 1.15 million beneficiaries aged 15 to 18 years old.

The DBM further said that on top of the P59.38 billion, the modified CCT will receive a budget of P3.29 billion to help 218,377 households classified as itinerants, homeless street families, indigenous people, and families in need of special protection by providing education and healthcare grants, as well as assistance packages such as cash-for-work.
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