(...)
The fact that someone anonymous wants to create this, with no clear indication of how(...)
ePeso has just been announced... you'll have more details in due time. The official website will be up next week.
So, to the OP - who are you and what is your background
I'm a software engineer. Some recent cryptocurrency-related experience: I've run some pools (CrunchPool currently), I helped patch stratum for maxcoin, I helped patch NewYork coin and I created a block explorer for it. I've also created and maintained SpainCoin.
However, if you change the algo to a totally premined coin, with only PoS mining to keep it stable (a la Blackcoin), with a clear method of giving it ALL away to Philippines residents, and total transparency as to where the coins go, then I might support it.
What? now calling for a 100% premine??

PoS is not secure in its current form as implemented in the many PoS coins in existance. Among other things,it needs constant checkpointing to prevent attacks. That's why
the ePeso won't be a premined PoS coin.
Seriously? They, the PI Govt, are either going to create their own or use Counterparty. This "E-PESO" project was contracted out over a year ago by USAID. Google it. That contract specification is everything you would expect from a Government entity, out of touch, with old data and hopelessly and needlessly complex. Eventually the PI Govt will either use just BTC or go with a tokenized system they can control completely until they can make the transition to BTC. This coin of yours is not going to fly. Try the Ecuador Sucre that is about to be launched next month. The E-peso you have is DOA.