Filipinos lack knowledge to make “informed” saving decisions – Tetangco
Survey results highlight the need for improved financial education programme
The governor of the Central Bank of the Philippines has stressed the need for improved financial education following the results of a World Bank survey.
Amando Tetangco revealed Filipino adults correctly answered only three out of seven financial literacy-related questions in the survey, emphasising they “lack specific knowledge” required to make “informed” saving and borrowing decisions.
“Clearly, there is a need for effective financial education interventions,” Tetangco said, in remarks
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