MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) appeared wary of proposals to withdraw large-denomination peso bills from circulation as a supposed deterrent to corruption. Governor Eli Remolona Jr. warned that such a move could do more harm than good.

Speaking to reporters on Monday, Remolona said the idea, while still under discussion, requires careful consideration of its potential impacts.

https://business.inquirer.net/552411/bsp-wary-of-proposal-to-phase-out-large-peso-bills