In an interview over dwIZ, Pimentel said the Bangko Sentral ng Pilipinas (BSP) has a lot of explaining to do about its redesign of banknotes instead of focusing on curbing inflation.
He assailed BSP's "crazy idea" of choosing "plastic" over paper money made of abaca and cotton.
Pimentel said he will file a resolution urging the Senate committee on banks, financial institutions and currencies to look into the matter.
"BSP should explain to lawmakers how much it spent for the redesign and the results of its trial run when it released the P1000 polymer notes in 2022," Pimentel said, adding that paper money is more practical to use than polymer.
He added the BSP should explain its shift to educating the public about flora and fauna from featuring the faces of former presidents, war heroes and martyrs.
This story is from the December 22, 2024 edition of The Philippine Star.
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This story is from the December 22, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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