games on the event app for your entertainment in between sessions. there will also be electronic raffle draws for registered participants. in closing, we thank all of our participants and institutional partners who remain committed to the bsp's advocacy of strengthening financial health for every filipino. what does a post - pandemic financial recovery look like? we no longer have to imagine because we are already creating it. together, let us create a financial future that is more accessible, rewarding, and sustainable for all filipinos. maraming salamat at mabuhay po tayong lahat. 4 / 4 bis - central bankers'speeches

disasters but also by financial exclusion and financial illiteracy. with limited income and credit, affected households depleted their savings, defaulted on their debts, and sought government aid. some households even resorted to taking their children out of school. some took out " buy now, pay later " loans from unregulated lending companies, often with prohibitive interest rates. the most financially vulnerable sectors also belong to the most financially underserved. filipino farmers and agricultural workers were the least banked among all types of workers during the pandemic, with 73. 0 percent having no financial accounts. besides the dearth of account ownership, notable gaps in financial knowledge are also reflected in filipinos'poor performance in financial literacy surveys. when surveyed on basic financial literacy questions, only 2 in 10 filipinos scored a hundred percent, while 7 in 10 correctly answered at least half of the questions. only 42. 0 percent of adults correctly identified inflation's effect on purchasing power in 2021, lower than 55. 0 percent in 2019. the question on simple and compound interest had the lowest correct answers at just 30. 0 percent. these results are consistent with the philippines'showing in similar international financial literacy surveys. the world bank found that only 25. 0 percent of adult filipinos are knowledgeable on basic financial concepts. in a global study by standard & poor's [ s & p global ratings ], the philippines scored in the bottom 30 of 144 countries surveyed on financial literacy. financial health through financial education these knowledge gaps show that for many filipinos, financial health is still a work in progress. the bsp is committed to upholding the financial health of every filipino as best embodied in this year's expo theme : " owning the future : rebuilding and strengthening financial health through financial literacy. " the bsp is actively working with partners in government, namely the overseas workers welfare administration and the departments of agriculture, trade and industry, and social welfare and development to develop customized capacity - building financial literacy training programs. 2 / 4 bis - central bankers'speeches we partnered with the civil service commission, the armed forces of the philippines, the bureau of fire protection, and the philippine national police for fin - ed programs for civil servants and uniformed personnel. we are working with the department of education and the commission on higher education to make financial literacy lessons mandatory for k - 12 [ kindergarten to grade 12 ] and secondary education classes and in training programs for teachers. through our upcoming partnership with the technical education and