Thread by @cnnphilippines

THREAD: Bangko Sentral ng Pilipinas Governor Benjamin Diokno holds his weekly briefing. He begins by providing updates on the BSP's currency operations.

Updates by our digital producer @pplmanuel

@pplmanuel Diokno presents the BSP's Open Finance Framework, which also hopes to speed up the digitization of 50% of all retail payments by 2023.

@pplmanuel BSP Gov, Diokno: The shift to polymer denominations will be based on the [limited] circulation of the ₱1000 banknote this year.

@pplmanuel BSP Gov. Diokno: The ₱20 peso and banknote continue to co-exist until the banknote becomes unfit for monetization.

He adds the BSP continues to print the ₱20 bill in-house.

@pplmanuel BSP Gov. Diokno assures the country's ATM system is secure, clarifies the recent advisory they issued on counterfeit bills aims to respond to certain netizens' concerns.

@pplmanuel BSP Gov. Diokno: Banks will be held accountable if they fail to observe measures to protect clients.

@pplmanuel BSP Currency Policy and Integrity Dept. director Eloisa Glindro reports 39,500 counterfeited banknotes in 2021, up from 2020 but "significantly lower" from 2017-2019.

@pplmanuel BSP Gov. Diokno on recent GDP figures: I think we performed much better than our revised expectation. For example, our projection was 7.4%; Q4 was 7.7%. That's a good sign.