Filipinos lack knowledge to make “informed” saving decisions – Tetangco

amando-tetangco-gov
Amando Tetangco

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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