Palau President Surangel Whipps Jr of Palau has called for peace and stability worldwide, as the Ukraine invasion by Russia has had ripple effects on Palau and other nations’ economies.
Palau is susceptible to external factors and has already been suffering from the drop in tourism and the worldwide delay of goods caused by the pandemic. The Russian invasion of Ukraine has further aggravated the situation, causing gas prices to skyrocket.
The economic downturn experienced by Palau underscores the interconnectedness of our global community. Surangel said that is why there is a need to remind world leaders to advocate for peace and stability, as Palau is suffering from a war “that is not of their own making.”
The Ukraine invasion by Russia has significantly impacted the global economy, and small island nations like Palau are particularly vulnerable. The invasion has caused energy prices to soar, which has led to higher costs for goods and services. This is a major problem for Palau, which relies heavily on imports.
The tourism industry is another important sector of the Palauan economy, and it has been hit hard by the pandemic. The Russian invasion of Ukraine has further exacerbated the situation.
President Surangel Whipps Jr said that there is an urgent need for peace and stability worldwide. The war in Ukraine is a tragedy that is having a devastating impact on the global economy. Palau is just one of many countries that are feeling the effects of the war.
SOURCE: ISLAND TIMES/PACNEWS