August 20, 2017, 4:37 am
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1 Philippine Peso = 0.07443 UAE Dirham
1 Philippine Peso = 2.4017 Albanian Lek
1 Philippine Peso = 0.03628 Neth Antilles Guilder
1 Philippine Peso = 0.32436 Argentine Peso
1 Philippine Peso = 0.02723 Australian Dollar
1 Philippine Peso = 0.03626 Aruba Florin
1 Philippine Peso = 0.04054 Barbados Dollar
1 Philippine Peso = 1.63579 Bangladesh Taka
1 Philippine Peso = 0.03534 Bulgarian Lev
1 Philippine Peso = 0.00763 Bahraini Dinar
1 Philippine Peso = 34.60377 Burundi Franc
1 Philippine Peso = 0.02027 Bermuda Dollar
1 Philippine Peso = 0.02797 Brunei Dollar
1 Philippine Peso = 0.13904 Bolivian Boliviano
1 Philippine Peso = 0.06579 Brazilian Real
1 Philippine Peso = 0.02027 Bahamian Dollar
1 Philippine Peso = 1.30624 Bhutan Ngultrum
1 Philippine Peso = 0.20692 Botswana Pula
1 Philippine Peso = 405.75598 Belarus Ruble
1 Philippine Peso = 0.04049 Belize Dollar
1 Philippine Peso = 0.02733 Canadian Dollar
1 Philippine Peso = 0.01952 Swiss Franc
1 Philippine Peso = 13.57175 Chilean Peso
1 Philippine Peso = 0.13799 Chinese Yuan
1 Philippine Peso = 58.59343 Colombian Peso
1 Philippine Peso = 11.43535 Costa Rica Colon
1 Philippine Peso = 0.02027 Cuban Peso
1 Philippine Peso = 1.98075 Cape Verde Escudo
1 Philippine Peso = 0.47231 Czech Koruna
1 Philippine Peso = 3.59951 Djibouti Franc
1 Philippine Peso = 0.13357 Danish Krone
1 Philippine Peso = 0.95278 Dominican Peso
1 Philippine Peso = 2.19181 Algerian Dinar
1 Philippine Peso = 0.28109 Estonian Kroon
1 Philippine Peso = 0.36583 Egyptian Pound
1 Philippine Peso = 0.46433 Ethiopian Birr
1 Philippine Peso = 0.01797 Euro
1 Philippine Peso = 0.04244 Fiji Dollar
1 Philippine Peso = 0.01573 Falkland Islands Pound
1 Philippine Peso = 0.01572 British Pound
1 Philippine Peso = 0.08685 Ghanaian Cedi
1 Philippine Peso = 0.91021 Gambian Dalasi
1 Philippine Peso = 182.75233 Guinea Franc
1 Philippine Peso = 0.1491 Guatemala Quetzal
1 Philippine Peso = 4.14512 Guyana Dollar
1 Philippine Peso = 0.15784 Hong Kong Dollar
1 Philippine Peso = 0.47422 Honduras Lempira
1 Philippine Peso = 0.13229 Croatian Kuna
1 Philippine Peso = 1.24625 Haiti Gourde
1 Philippine Peso = 5.54195 Hungarian Forint
1 Philippine Peso = 269.57844 Indonesian Rupiah
1 Philippine Peso = 0.07211 Israeli Shekel
1 Philippine Peso = 1.30521 Indian Rupee
1 Philippine Peso = 23.93595 Iraqi Dinar
1 Philippine Peso = 657.62059 Iran Rial
1 Philippine Peso = 1.9771 Iceland Krona
1 Philippine Peso = 2.6139 Jamaican Dollar
1 Philippine Peso = 0.01433 Jordanian Dinar
1 Philippine Peso = 2.23666 Japanese Yen
1 Philippine Peso = 2.0906 Kenyan Shilling
1 Philippine Peso = 1.38113 Kyrgyzstan Som
1 Philippine Peso = 81.57681 Cambodia Riel
1 Philippine Peso = 9.12404 Comoros Franc
1 Philippine Peso = 18.24078 North Korean Won
1 Philippine Peso = 22.6366 Korean Won
1 Philippine Peso = 0.00614 Kuwaiti Dinar
1 Philippine Peso = 0.01662 Cayman Islands Dollar
1 Philippine Peso = 6.364 Kazakhstan Tenge
1 Philippine Peso = 166.08836 Lao Kip
1 Philippine Peso = 30.51277 Lebanese Pound
1 Philippine Peso = 3.08877 Sri Lanka Rupee
1 Philippine Peso = 1.84435 Liberian Dollar
1 Philippine Peso = 0.25922 Lesotho Loti
1 Philippine Peso = 0.06179 Lithuanian Lita
1 Philippine Peso = 0.01258 Latvian Lat
1 Philippine Peso = 0.02821 Libyan Dinar
1 Philippine Peso = 0.19642 Moroccan Dirham
1 Philippine Peso = 0.36735 Moldovan Leu
1 Philippine Peso = 1.09972 Macedonian Denar
1 Philippine Peso = 27.52331 Myanmar Kyat
1 Philippine Peso = 48.27726 Mongolian Tugrik
1 Philippine Peso = 0.16258 Macau Pataca
1 Philippine Peso = 7.25578 Mauritania Ougulya
1 Philippine Peso = 0.70024 Mauritius Rupee
1 Philippine Peso = 0.31394 Maldives Rufiyaa
1 Philippine Peso = 14.54094 Malawi Kwacha
1 Philippine Peso = 0.37863 Mexican Peso
1 Philippine Peso = 0.08672 Malaysian Ringgit
1 Philippine Peso = 0.2604 Namibian Dollar
1 Philippine Peso = 6.52615 Nigerian Naira
1 Philippine Peso = 0.59972 Nicaragua Cordoba
1 Philippine Peso = 0.17055 Norwegian Krone
1 Philippine Peso = 2.08654 Nepalese Rupee
1 Philippine Peso = 0.02835 New Zealand Dollar
1 Philippine Peso = 0.00779 Omani Rial
1 Philippine Peso = 0.02027 Panama Balboa
1 Philippine Peso = 0.06622 Peruvian Nuevo Sol
1 Philippine Peso = 0.06654 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11897 Pakistani Rupee
1 Philippine Peso = 0.0753 Polish Zloty
1 Philippine Peso = 112.82935 Paraguayan Guarani
1 Philippine Peso = 0.0738 Qatar Rial
1 Philippine Peso = 0.08196 Romanian New Leu
1 Philippine Peso = 1.14766 Russian Rouble
1 Philippine Peso = 16.61897 Rwanda Franc
1 Philippine Peso = 0.076 Saudi Arabian Riyal
1 Philippine Peso = 0.16004 Solomon Islands Dollar
1 Philippine Peso = 0.26836 Seychelles Rupee
1 Philippine Peso = 0.13498 Sudanese Pound
1 Philippine Peso = 0.17451 Swedish Krona
1 Philippine Peso = 0.02797 Singapore Dollar
1 Philippine Peso = 0.01573 St Helena Pound
1 Philippine Peso = 0.45006 Slovak Koruna
1 Philippine Peso = 152.00649 Sierra Leone Leone
1 Philippine Peso = 11.08634 Somali Shilling
1 Philippine Peso = 435.85326 Sao Tome Dobra
1 Philippine Peso = 0.17678 El Salvador Colon
1 Philippine Peso = 10.43737 Syrian Pound
1 Philippine Peso = 0.26014 Swaziland Lilageni
1 Philippine Peso = 0.6897 Thai Baht
1 Philippine Peso = 0.04917 Tunisian Dinar
1 Philippine Peso = 0.04647 Tongan paʻanga
1 Philippine Peso = 0.0711 Turkish Lira
1 Philippine Peso = 0.13537 Trinidad Tobago Dollar
1 Philippine Peso = 0.61011 Taiwan Dollar
1 Philippine Peso = 45.17633 Tanzanian Shilling
1 Philippine Peso = 0.53223 Ukraine Hryvnia
1 Philippine Peso = 72.78071 Ugandan Shilling
1 Philippine Peso = 0.02027 United States Dollar
1 Philippine Peso = 0.57377 Uruguayan New Peso
1 Philippine Peso = 77.82732 Uzbekistan Sum
1 Philippine Peso = 0.20216 Venezuelan Bolivar
1 Philippine Peso = 459.54601 Vietnam Dong
1 Philippine Peso = 2.18241 Vanuatu Vatu
1 Philippine Peso = 0.05201 Samoa Tala
1 Philippine Peso = 11.77483 CFA Franc (BEAC)
1 Philippine Peso = 0.05472 East Caribbean Dollar
1 Philippine Peso = 11.82205 CFA Franc (BCEAO)
1 Philippine Peso = 2.13174 Pacific Franc
1 Philippine Peso = 5.06546 Yemen Riyal
1 Philippine Peso = 0.25921 South African Rand
1 Philippine Peso = 105.17835 Zambian Kwacha
1 Philippine Peso = 7.33482 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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