Cash shortage among major problems in Masbate after 'Opong' onslaught—Marcos
President Ferdinand R. Marcos Jr. visits Masbate on Oct. 1, 2025 after the onslaught of Typhoon Opong. (Photo courtesy of PCO)
President Marcos said most of the impacts left by Typhoon Opong have been addressed by the government, except for the lack of cash among residents.
Marcos was not talking about cash assistance, but the absence of means to withdraw money, citing that the closest operating bank was two hours away from Masbate.
"I think that we have attended to most of the problems. Yung pinakamalaking problema na hindi pa natin nabigyan ng atensyon yung kakulangan ng cash. Dahil hindi makapag-withdraw yung mga tao, dahil sarado yung mga bangko, walang kuryente, walang internet (The biggest problem that we have not yet addressed is the lack of cash. People cannot make withdrawals because the banks are closed, there is no electricity, and no internet)," Marcos said in an interview in Masbate City on Wednesday, Oct. 1.
The President stressed that this is the issue they have to solve "very quickly," saying they will have to bring a large amount of cash to the province.
"Ang solusyon ay talagang magdadala tayo rito ng napakaraming cash. So, yun ang isusunod namin. Yun ang pinakakulang at hindi pa namin nagagawa at all (The solution is really to bring in a large amount of cash here. So that is what we will do next. That is the main shortage and something we have not done at all)," he said.
According to him, people in Masbate are going all the way to Legazpi to withdraw money.
"Sa ibang lugar hindi naging problema 'yan, e. Yun ang problema ngayon dito sa Masbate, they are going all the way to Legazpi to withdraw money. Kung saan saan pumupunta, they go anywhere na makautang, e walang nagpapautang ngayon, syempre dahil ganito (This was not a problem in other areas. But that's the problem here in Masbate, people are going all the way to Legazpi to withdraw money. They go anywhere to borrow, but of course no one is lending now because of the situation)," the President said.
"So, it's a problem. That is a problem that we are going to solve and very very quickly," he added.
He also cited the overwhelming damage the typhoon has caused in the province, vowing that the government "have to do a lot of work for them to recover."
Earlier, he announced that has directed the Department of Budget and Management (DBM) to release P100 million in local government support fund (LGSF)for the province's rehabilitation.