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Manila Bulletin devider Business devider BSP assures adequate cash in Odette-hit regions

BSP assures adequate cash in Odette-hit regions

Published Dec 23, 2021 02:36 pm

The Bangko Sentral ng Pilipinas (BSP) has assured regions devastated by Typhoon Odette of adequate and uninterrupted supply of banknotes as government, the private sector and international groups pour cash assistance in calamity-hit areas.

“There is adequate supply of currency in areas affected by Typhoon Odette,” said BSP on Thursday, Dec. 23.

“Amid electricity and internet connection outages, BSP offices and branches continue to fully service the currency requirements of banks in the Visayas and Mindanao,” said the BSP.

The BSP also assured the public that it is continuing to provide full tellering services and “stands ready to assist banks in their currency needs” to meet the currency demands in typhoon-struck provinces to support the immediate recovery of affected areas.

“In relation to this, BSP also reminds banks in concerned areas to carry out measures to ensure the availability of cash in their ATMs and to service the public's withdrawal needs,” said the BSP.

The government has placed six regions under a State of Calamity after Typhoon Odette wreaked havoc last Dec. 16. These areas are Regions 4-B, 6, 7, 8, 10 and 13.

The government said a State of Calamity should speed up the flow of relief and rescue and the ensuing rehabiliation after the supertyphoon.

Typhooh Odette is the 15th storm to enter the Philippines this year. The death toll has reached over 250 and the damage to both agriculture and infrastructure is nearing P4 billion, according to the National Disaster Risk Reduction and Management Council.

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