April 20, 2018, 8:57 am
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1 Philippine Peso = 0.07053 UAE Dirham
1 Philippine Peso = 1.99923 Albanian Lek
1 Philippine Peso = 0.03418 Neth Antilles Guilder
1 Philippine Peso = 0.38677 Argentine Peso
1 Philippine Peso = 0.02467 Australian Dollar
1 Philippine Peso = 0.03418 Aruba Florin
1 Philippine Peso = 0.03841 Barbados Dollar
1 Philippine Peso = 1.59228 Bangladesh Taka
1 Philippine Peso = 0.03034 Bulgarian Lev
1 Philippine Peso = 0.00724 Bahraini Dinar
1 Philippine Peso = 33.62742 Burundi Franc
1 Philippine Peso = 0.0192 Bermuda Dollar
1 Philippine Peso = 0.02503 Brunei Dollar
1 Philippine Peso = 0.13175 Bolivian Boliviano
1 Philippine Peso = 0.06526 Brazilian Real
1 Philippine Peso = 0.0192 Bahamian Dollar
1 Philippine Peso = 1.26032 Bhutan Ngultrum
1 Philippine Peso = 0.18403 Botswana Pula
1 Philippine Peso = 384.48243 Belarus Ruble
1 Philippine Peso = 0.03837 Belize Dollar
1 Philippine Peso = 0.02421 Canadian Dollar
1 Philippine Peso = 0.01858 Swiss Franc
1 Philippine Peso = 11.41406 Chilean Peso
1 Philippine Peso = 0.12052 Chinese Yuan
1 Philippine Peso = 52.12791 Colombian Peso
1 Philippine Peso = 10.7778 Costa Rica Colon
1 Philippine Peso = 0.0192 Cuban Peso
1 Philippine Peso = 1.71039 Cape Verde Escudo
1 Philippine Peso = 0.39282 Czech Koruna
1 Philippine Peso = 3.39601 Djibouti Franc
1 Philippine Peso = 0.11551 Danish Krone
1 Philippine Peso = 0.94891 Dominican Peso
1 Philippine Peso = 2.1798 Algerian Dinar
1 Philippine Peso = 0.24262 Estonian Kroon
1 Philippine Peso = 0.33916 Egyptian Pound
1 Philippine Peso = 0.52276 Ethiopian Birr
1 Philippine Peso = 0.01551 Euro
1 Philippine Peso = 0.03865 Fiji Dollar
1 Philippine Peso = 0.01348 Falkland Islands Pound
1 Philippine Peso = 0.01349 British Pound
1 Philippine Peso = 0.08525 Ghanaian Cedi
1 Philippine Peso = 0.89975 Gambian Dalasi
1 Philippine Peso = 172.80584 Guinea Franc
1 Philippine Peso = 0.14089 Guatemala Quetzal
1 Philippine Peso = 3.95007 Guyana Dollar
1 Philippine Peso = 0.15072 Hong Kong Dollar
1 Philippine Peso = 0.45249 Honduras Lempira
1 Philippine Peso = 0.11491 Croatian Kuna
1 Philippine Peso = 1.24505 Haiti Gourde
1 Philippine Peso = 4.8093 Hungarian Forint
1 Philippine Peso = 264.60534 Indonesian Rupiah
1 Philippine Peso = 0.06739 Israeli Shekel
1 Philippine Peso = 1.26727 Indian Rupee
1 Philippine Peso = 22.73862 Iraqi Dinar
1 Philippine Peso = 806.60649 Iran Rial
1 Philippine Peso = 1.91031 Iceland Krona
1 Philippine Peso = 2.37565 Jamaican Dollar
1 Philippine Peso = 0.01361 Jordanian Dinar
1 Philippine Peso = 2.06171 Japanese Yen
1 Philippine Peso = 1.92145 Kenyan Shilling
1 Philippine Peso = 1.32194 Kyrgyzstan Som
1 Philippine Peso = 76.97331 Cambodia Riel
1 Philippine Peso = 7.61206 Comoros Franc
1 Philippine Peso = 17.28442 North Korean Won
1 Philippine Peso = 20.40042 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01575 Cayman Islands Dollar
1 Philippine Peso = 6.25043 Kazakhstan Tenge
1 Philippine Peso = 158.93989 Lao Kip
1 Philippine Peso = 28.9034 Lebanese Pound
1 Philippine Peso = 2.99693 Sri Lanka Rupee
1 Philippine Peso = 2.50451 Liberian Dollar
1 Philippine Peso = 0.22892 Lesotho Loti
1 Philippine Peso = 0.05855 Lithuanian Lita
1 Philippine Peso = 0.01192 Latvian Lat
1 Philippine Peso = 0.02543 Libyan Dinar
1 Philippine Peso = 0.17577 Moroccan Dirham
1 Philippine Peso = 0.31452 Moldovan Leu
1 Philippine Peso = 0.94968 Macedonian Denar
1 Philippine Peso = 25.52333 Myanmar Kyat
1 Philippine Peso = 45.86134 Mongolian Tugrik
1 Philippine Peso = 0.15521 Macau Pataca
1 Philippine Peso = 6.76013 Mauritania Ougulya
1 Philippine Peso = 0.64144 Mauritius Rupee
1 Philippine Peso = 0.29902 Maldives Rufiyaa
1 Philippine Peso = 13.70175 Malawi Kwacha
1 Philippine Peso = 0.35007 Mexican Peso
1 Philippine Peso = 0.07459 Malaysian Ringgit
1 Philippine Peso = 0.22915 Namibian Dollar
1 Philippine Peso = 6.87536 Nigerian Naira
1 Philippine Peso = 0.59554 Nicaragua Cordoba
1 Philippine Peso = 0.14884 Norwegian Krone
1 Philippine Peso = 2.01652 Nepalese Rupee
1 Philippine Peso = 0.02629 New Zealand Dollar
1 Philippine Peso = 0.00739 Omani Rial
1 Philippine Peso = 0.0192 Panama Balboa
1 Philippine Peso = 0.06176 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.21836 Pakistani Rupee
1 Philippine Peso = 0.06459 Polish Zloty
1 Philippine Peso = 106.04187 Paraguayan Guarani
1 Philippine Peso = 0.0699 Qatar Rial
1 Philippine Peso = 0.07223 Romanian New Leu
1 Philippine Peso = 1.16816 Russian Rouble
1 Philippine Peso = 16.22066 Rwanda Franc
1 Philippine Peso = 0.07202 Saudi Arabian Riyal
1 Philippine Peso = 0.14768 Solomon Islands Dollar
1 Philippine Peso = 0.25792 Seychelles Rupee
1 Philippine Peso = 0.34667 Sudanese Pound
1 Philippine Peso = 0.161 Swedish Krona
1 Philippine Peso = 0.02513 Singapore Dollar
1 Philippine Peso = 0.01349 St Helena Pound
1 Philippine Peso = 0.42646 Slovak Koruna
1 Philippine Peso = 146.53351 Sierra Leone Leone
1 Philippine Peso = 10.79316 Somali Shilling
1 Philippine Peso = 380.06338 Sao Tome Dobra
1 Philippine Peso = 0.16804 El Salvador Colon
1 Philippine Peso = 9.89015 Syrian Pound
1 Philippine Peso = 0.22917 Swaziland Lilageni
1 Philippine Peso = 0.599 Thai Baht
1 Philippine Peso = 0.04602 Tunisian Dinar
1 Philippine Peso = 0.04292 Tongan paʻanga
1 Philippine Peso = 0.07736 Turkish Lira
1 Philippine Peso = 0.12961 Trinidad Tobago Dollar
1 Philippine Peso = 0.56365 Taiwan Dollar
1 Philippine Peso = 43.7488 Tanzanian Shilling
1 Philippine Peso = 0.50259 Ukraine Hryvnia
1 Philippine Peso = 70.84694 Ugandan Shilling
1 Philippine Peso = 0.0192 United States Dollar
1 Philippine Peso = 0.54158 Uruguayan New Peso
1 Philippine Peso = 154.65719 Uzbekistan Sum
1 Philippine Peso = 1139.831 Venezuelan Bolivar
1 Philippine Peso = 437.43038 Vietnam Dong
1 Philippine Peso = 2.00538 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.16881 CFA Franc (BEAC)
1 Philippine Peso = 0.05185 East Caribbean Dollar
1 Philippine Peso = 10.16881 CFA Franc (BCEAO)
1 Philippine Peso = 1.83983 Pacific Franc
1 Philippine Peso = 4.79931 Yemen Riyal
1 Philippine Peso = 0.2292 South African Rand
1 Philippine Peso = 99.66391 Zambian Kwacha
1 Philippine Peso = 6.95026 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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