It's not only Fortune 500 companies that are losing money and laying off employees; apparently countries—at least Palau—are facing the same economic troubles. New President Johnson Toribiong says the Palauan government will likely have to "cease hiring and even layoff employees in order to stay with [sic] its means" and balance the budget, according to Tia Belau (via okedyulabeluu). This comes as lawmakers propose increasing wages for top government officials, which stands in stark contrast to President Barack Obama's wage freeze for high earners in the U.S. government.
There's no question the Palauan economy runs largely on government wages, so layoffs, while balancing the budget in the short term, could simply push the country further into economic doldrums in the long run. Besides, we wouldn't want Budweiser to suffer any more, now would we?
In other bureaucratic news, Koror State Speaker Timothy Uehara was convicted of misconduct in public office and perjury for collecting rental payments on state property for himself instead of the state. Perhaps he was stashing the money in a high-interest bank account in order to generate extra funds to fight Palau's current economic crisis. Quite prescient, I must say—although, in hindsight, he shouldn't have chosen Pacific Savings Bank...
Meanwhile, the Philippines are busy wooing a Palauan delegation for access to new fishing areas after Indonesia enacted new, stricter regulations last year that required more of the catch to be processed in Indonesia. A Filipino official says the Palauan representatives are looking for "joint ventures" in fishing—i.e. fishing companies paying Palau a little money in order to exploit its resources and make a lot of money. Hey, maybe Palau should take up phosphate mining again too. Worked for Nauru.
It's not all take, take, take for the Philippines though. They continue to give Palau quality employees, including a future systems analyst at Surangel's. Could he/she possibly analyze why I can never get some last minute booze there for my Friday night partying?
Thankfully, tourists continue to flock to Palau and support the economy. Patricia from Taiwan had a grand time on the Rock Islands enjoying native entertainment and watching the stars; sadly, the food was not delicious. Court of Stinger's Fort is looking forward to his trip to Palau for a liveaboard dive tour, although it will take away from his time working out and "schleeping."
Finally, for all you homesick Palauans out there, here's a matamatong for you to enjoy, courtesy of Lydia Smith-Lenardson. Support your country; send your earnings back home! Works for the Philippines.
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