Philippines rumored to outsource new notes to Oberthur

In a Manilla Bulletin article dated 17 October 2010, Bangko Sentral ng Pilipinas is said to be close to awarding the contract to print new notes to Oberthur Technologies of France. However, it has earlier been reported that De La Rue would produce the plates for the new notes (for free, no less!) and print the first batch, which are expected to be issued in December. These reports, which contradict themselves, also contradict previous announcements from BSP that it would cease outsourcing note printing and that it had bought two superline printers to be self-sufficient in the production of its own banknotes. I find it hard to believe that all of the Philippines denominations can be printed, shipped, and distributed by this December if the bank hasn’t yet awarded the contract.

Leave a Reply