An office dedicated to monitor and report on the economic and fiscal health of the country, has been created under the Ministry of Finance called Office of Financial and Economic Intelligence Services (FEIS).
In an Executive Order 454 signed by President Surangel Whipps Jr. on July 7th, it states that the “Republic would benefit from a specific office within the Ministry of Finance that could perform monitoring and reporting functions on the economic and fiscal health of the Republic, formulate fiscal and macroeconomic policies and review Palau’s tax policies, infrastructure investments and external debt levels.”
“Many of the activities we normally conduct under the ministry and within the government regarding fiscal management, including debt management and fiscal responsibility, procurement as well as fiscal management for the country as well as state-owned enterprises (SOE) are conducted to some degree under the Ministry of Finance. This Executive Order helps us to structure this more formally,” reported Kaleb Udui Jr., Minister of Finance.
In addition, he said that this would help Palau with donors and partners that Palau is relying on through this pandemic and to encourage further economic growth once the pandemic is over.
Palau has been relying on outside agencies such as ADB, USA Graduate School, World Bank and other to help provide capacity and support on economic assessment and economic policy advice.
EO 454 states that need for such services have grown and will continue to grow as Palau’s economy develops making it necessary to have such dedicated office established.

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