The article critiques the Bangko Sentral ng Pilipinas' (BSP) recent redesign of Philippine paper currency, which replaced portraits of national heroes and past leaders with images of flora, fauna, and geography. The author argues that while aesthetically pleasing, this change undermines the BSP's implicit function of fostering a sense of nationhood among Filipinos by disconnecting them from their historical and cultural heritage.
Like all government institutions, the BSP is expected to foster a sense of nationhood among its Filipino stakeholders.
The phrase may not be part of the Act’s text, but “foster a sense of nationhood” is definitely an inherent function of the BSP. Like all government institutions, the BSP is expected to foster a sense of nationhood among its Filipino stakeholders.The BSP had been doing a commendable job of managing the monetary and financial systems of this country, but in recent times it has engaged in an activity categorizable as doing something likely to weaken the sense of nationhood of Filipinos.
Since its establishment, this country’s central bank—initially the Central Bank of the Philippines, later the Bangko Sentral ng Pilipinas—has designed and placed in circulation banknotes depicting national heroes and former Presidents of the Philippines. The faces of latter-day heroes were added to the list of subjects for post-EDSA Revolution banknotes. Three World War II heroes—General Vicente Lim, Secretary of Justice Jose Abad Santos and Josefa Llanes Escoda—were chosen to grace the P1,000 banknote. And as a tribute to their exemplary lives, President Corazon Aquino and her husband, Senator Benigno Aquino Jr., were chosen by the post-EDSA Revolution Monetary Board to grace the P 500 bill.
BSP PHILIPPINE CURRENCY NATIONAL IDENTITY HISTORY HERITAGE
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