January 18, 2017, 2:14 pm
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1 Philippine Peso = 0.07373 UAE Dirham
1 Philippine Peso = 2.57378 Albanian Lek
1 Philippine Peso = 0.03554 Neth Antilles Guilder
1 Philippine Peso = 0.31799 Argentine Peso
1 Philippine Peso = 0.02683 Australian Dollar
1 Philippine Peso = 0.03594 Aruba Florin
1 Philippine Peso = 0.04015 Barbados Dollar
1 Philippine Peso = 1.59024 Bangladesh Taka
1 Philippine Peso = 0.03683 Bulgarian Lev
1 Philippine Peso = 0.00756 Bahraini Dinar
1 Philippine Peso = 33.69343 Burundi Franc
1 Philippine Peso = 0.02008 Bermuda Dollar
1 Philippine Peso = 0.02866 Brunei Dollar
1 Philippine Peso = 0.13752 Bolivian Boliviano
1 Philippine Peso = 0.06466 Brazilian Real
1 Philippine Peso = 0.02008 Bahamian Dollar
1 Philippine Peso = 1.3697 Bhutan Ngultrum
1 Philippine Peso = 0.21257 Botswana Pula
1 Philippine Peso = 401.92732 Belarus Ruble
1 Philippine Peso = 0.03975 Belize Dollar
1 Philippine Peso = 0.02636 Canadian Dollar
1 Philippine Peso = 0.02027 Swiss Franc
1 Philippine Peso = 13.25216 Chilean Peso
1 Philippine Peso = 0.13857 Chinese Yuan
1 Philippine Peso = 59.08452 Colombian Peso
1 Philippine Peso = 10.94158 Costa Rica Colon
1 Philippine Peso = 0.02008 Cuban Peso
1 Philippine Peso = 2.08352 Cape Verde Escudo
1 Philippine Peso = 0.51054 Czech Koruna
1 Philippine Peso = 3.5802 Djibouti Franc
1 Philippine Peso = 0.14047 Danish Krone
1 Philippine Peso = 0.93074 Dominican Peso
1 Philippine Peso = 2.20173 Algerian Dinar
1 Philippine Peso = 0.29553 Estonian Kroon
1 Philippine Peso = 0.37844 Egyptian Pound
1 Philippine Peso = 0.45091 Ethiopian Birr
1 Philippine Peso = 0.01889 Euro
1 Philippine Peso = 0.04186 Fiji Dollar
1 Philippine Peso = 0.01668 Falkland Islands Pound
1 Philippine Peso = 0.01668 British Pound
1 Philippine Peso = 0.08489 Ghanaian Cedi
1 Philippine Peso = 0.88376 Gambian Dalasi
1 Philippine Peso = 186.70949 Guinea Franc
1 Philippine Peso = 0.15123 Guatemala Quetzal
1 Philippine Peso = 4.106 Guyana Dollar
1 Philippine Peso = 0.15569 Hong Kong Dollar
1 Philippine Peso = 0.45774 Honduras Lempira
1 Philippine Peso = 0.14162 Croatian Kuna
1 Philippine Peso = 1.28749 Haiti Gourde
1 Philippine Peso = 5.79984 Hungarian Forint
1 Philippine Peso = 267.35595 Indonesian Rupiah
1 Philippine Peso = 0.07659 Israeli Shekel
1 Philippine Peso = 1.3682 Indian Rupee
1 Philippine Peso = 23.7101 Iraqi Dinar
1 Philippine Peso = 649.86949 Iran Rial
1 Philippine Peso = 2.28267 Iceland Krona
1 Philippine Peso = 2.57599 Jamaican Dollar
1 Philippine Peso = 0.01421 Jordanian Dinar
1 Philippine Peso = 2.28719 Japanese Yen
1 Philippine Peso = 2.08292 Kenyan Shilling
1 Philippine Peso = 1.39468 Kyrgyzstan Som
1 Philippine Peso = 80.11845 Cambodia Riel
1 Philippine Peso = 9.27525 Comoros Franc
1 Philippine Peso = 18.06866 North Korean Won
1 Philippine Peso = 23.72214 Korean Won
1 Philippine Peso = 0.00613 Kuwaiti Dinar
1 Philippine Peso = 0.01646 Cayman Islands Dollar
1 Philippine Peso = 6.68681 Kazakhstan Tenge
1 Philippine Peso = 163.9229 Lao Kip
1 Philippine Peso = 30.21682 Lebanese Pound
1 Philippine Peso = 3.01144 Sri Lanka Rupee
1 Philippine Peso = 1.82694 Liberian Dollar
1 Philippine Peso = 0.27103 Lesotho Loti
1 Philippine Peso = 0.06121 Lithuanian Lita
1 Philippine Peso = 0.01246 Latvian Lat
1 Philippine Peso = 0.02868 Libyan Dinar
1 Philippine Peso = 0.20159 Moroccan Dirham
1 Philippine Peso = 0.40323 Moldovan Leu
1 Philippine Peso = 1.15559 Macedonian Denar
1 Philippine Peso = 27.06284 Myanmar Kyat
1 Philippine Peso = 49.94981 Mongolian Tugrik
1 Philippine Peso = 0.16036 Macau Pataca
1 Philippine Peso = 7.12387 Mauritania Ougulya
1 Philippine Peso = 0.72014 Mauritius Rupee
1 Philippine Peso = 0.30797 Maldives Rufiyaa
1 Philippine Peso = 14.38807 Malawi Kwacha
1 Philippine Peso = 0.43213 Mexican Peso
1 Philippine Peso = 0.08957 Malaysian Ringgit
1 Philippine Peso = 0.27209 Namibian Dollar
1 Philippine Peso = 6.32403 Nigerian Naira
1 Philippine Peso = 0.58975 Nicaragua Cordoba
1 Philippine Peso = 0.17069 Norwegian Krone
1 Philippine Peso = 2.1843 Nepalese Rupee
1 Philippine Peso = 0.02826 New Zealand Dollar
1 Philippine Peso = 0.00773 Omani Rial
1 Philippine Peso = 0.02008 Panama Balboa
1 Philippine Peso = 0.06745 Peruvian Nuevo Sol
1 Philippine Peso = 0.06333 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.10359 Pakistani Rupee
1 Philippine Peso = 0.08276 Polish Zloty
1 Philippine Peso = 116.05701 Paraguayan Guarani
1 Philippine Peso = 0.0731 Qatar Rial
1 Philippine Peso = 0.08481 Romanian New Leu
1 Philippine Peso = 1.19264 Russian Rouble
1 Philippine Peso = 16.31379 Rwanda Franc
1 Philippine Peso = 0.07528 Saudi Arabian Riyal
1 Philippine Peso = 0.15698 Solomon Islands Dollar
1 Philippine Peso = 0.26272 Seychelles Rupee
1 Philippine Peso = 0.12864 Sudanese Pound
1 Philippine Peso = 0.17904 Swedish Krona
1 Philippine Peso = 0.02867 Singapore Dollar
1 Philippine Peso = 0.01668 St Helena Pound
1 Philippine Peso = 0.44581 Slovak Koruna
1 Philippine Peso = 146.29592 Sierra Leone Leone
1 Philippine Peso = 10.96165 Somali Shilling
1 Philippine Peso = 462.93516 Sao Tome Dobra
1 Philippine Peso = 0.17511 El Salvador Colon
1 Philippine Peso = 10.33889 Syrian Pound
1 Philippine Peso = 0.27216 Swaziland Lilageni
1 Philippine Peso = 0.7113 Thai Baht
1 Philippine Peso = 0.04658 Tunisian Dinar
1 Philippine Peso = 0.04632 Tonga Pa'ang
1 Philippine Peso = 0.07556 Turkish Lira
1 Philippine Peso = 0.1345 Trinidad Tobago Dollar
1 Philippine Peso = 0.63521 Taiwan Dollar
1 Philippine Peso = 44.48906 Tanzanian Shilling
1 Philippine Peso = 0.5529 Ukraine Hryvnia
1 Philippine Peso = 72.37502 Ugandan Shilling
1 Philippine Peso = 0.02008 United States Dollar
1 Philippine Peso = 0.57519 Uruguayan New Peso
1 Philippine Peso = 64.9468 Uzbekistan Sum
1 Philippine Peso = 0.20026 Venezuelan Bolivar
1 Philippine Peso = 453.06163 Vietnam Dong
1 Philippine Peso = 2.15479 Vanuatu Vatu
1 Philippine Peso = 0.05167 Samoa Tala
1 Philippine Peso = 12.38747 CFA Franc (BEAC)
1 Philippine Peso = 0.05421 East Caribbean Dollar
1 Philippine Peso = 12.49508 CFA Franc (BCEAO)
1 Philippine Peso = 2.24312 Pacific Franc
1 Philippine Peso = 5.01706 Yemen Riyal
1 Philippine Peso = 0.27219 South African Rand
1 Philippine Peso = 104.1859 Zambian Kwacha
1 Philippine Peso = 7.26561 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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