30.OctIsn’t it pointless?
When you’re done reading my post, some of you will be incensed and are likely to say the Title is harsh.
I only knew of another protest going round the Net via Kotseng Kuba’s post. Apparently some Middle East based kababayan are encouraging all overseas Filipinos not to remit any money on 1-2 November, that’s this coming Thursday and Friday. This is because of what they perceive as a false perception of a stronger Peso buoyed by the OFW remittances. Generally the feeling is that it is unfair that our converted pay is now lower than before and our families in Pinas are left shortchanged because of the ever rising inflation. One would expect that with the upward trend for a better Peso - Dollar rate that our economy should also show signs of reviving. Unfortunately, that is not the case.
Yes, personally I feel bad about the whole thing, too. My GBP which used to convert at 100Php is now “just” between 90-92Php. Unlike real rich people, I don’t have hedge funds so I am affected by these fluctuations - big time.
Yes, I do feel mad & I do think it’s unfair that the Philippines seem to forget its other sources of (potential) income. We’re rich in resources other than this “service economy”. Why rely on our Domestic helpers, engineers and IT professionals alone? Why can’t we have better production lines for export? Why can’t we breathe life in our agriculture and aquaculture? Any investor knows it’s not wise to keep all your eggs in one basket. And how long can Pinas survive with this brain-drain? Are we saying it’s okay for everyone to leave knowing most of them will never come back?
Yes, other countries like Korea and China experienced massive brain drains between the 60’s-80’s. And they have recovered. It wasn’t just nationalism from those migrants but also a belief in their Government’s plans & words. When are we to have those believable “plans and words”? These days it’s always useless accolades like modern day heroes or Bayani, meant to encourage us to get out or stay out.
But what will those 2-days prove? I don’t even remit money on those dates. Frankly if OFWs across the globe want their angst felt, they should boycott the XMas-New Year season altogether. But can you really let your families suffer? Most OFWs’ families cannot survive a month without the remittance. Yes we do have leeches who probably deserve to starve anyway, but what of the children and the students and the sick family members?
As migrant workers, we made a conscious decision to rely on the international money market to dictate how much our families in Pinas will receive. It was our families and our selves we thought of helping, not our Country. It was a good “side effect” that our ailing economy’s been given some antidote due to our remittance, but that was never a collective decision. As OFWs we were always banking on the Peso being low.
This is our life. At least, personally, that is my life. I feel bad with the current exchange rate but wasn’t that our choice? We cannot force GMA and her cronies to actually do the right thing by making our families suffer. Yun ang doble-katay, because those people will not care anyway.
I will not be sending money this 1-2 November, that’s because I normally send this on the 30th. It’s up to you now.
This entry was posted on Tuesday, October 30th, 2007 at 6:00 am and is filed under buhay OFW, money matters, pinas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
ang taray
i supported this by sending the money earlier and maybe others will send their money on November third because 1 and 2 are working days 
Ipagkalat ko nga din yan dito.
i already told you my stand — i have started sending ‘in kind’ instead of cash when i realized my able siblings seem to wait only for the grasya. unless of course, i needed something to be sent for us here. kasi nakakapikon din minsan…
Auee, I don’t send money to the Philippines regularly, only as gifts, but your post about our government, brain drain, incidental heroes struck a chord. Why oh why can’t we get people to run our government with our people best interests at heart? When can we see a better Philippines?
ooops sorry for my previous post
kotsengkuba, mataray ba?
mitch, yes the more people know about the issue, the better. Maybe we could think of a better way to handle this situation about brain drain & economy slump.
raquel, we’re one of the lucky ones. I only have my parents to support & I’ve got sisters to help in that matter. May mga lintek din pero like you I don’t breed leeches.
geri, bullseye. I’m not mad about the peso getting stronger. I’m mad at the government relying on us to keep going without lifting a finger!
reminds me of cough syrup commercials. their point is, there are many products offering solutions, but all they do really solve the problems on the surface. if you really want to get the problem over and done with, deal with the root.
now the root of the problem…. hay.. ang habang usapan niyan. kaka-lungkot lang.
i also left this comment at kotsengkuba’s: i think the peso is not really strengthening; it’s just the dollar simply getting weaker. those paid in other currencies (euro, pounds, possibly dinar) may actually be benefiting from the weak dollar. for example, doesn’t your GBP equate to more USD? so if you send the same GBP equivalent to the Philippines as your previous remittances, you shouldn’t feel that much difference, di ba?
but then, mahina ako sa math, hehe.
I have long ago suspected that there is no real economic plan being done by our leaders. Sadly,we seem to be contented with the remittances OFW’s send. They are more concerned about political issues like how to remain in office etc. Basura na lang pinag-aawayan pa e.
Auee, there was a segment in the news a while back about the families of OFWs as having a “great” lifestyle. One of the things I distinctly remember is that they at least eat out once a week. Well, nothing wrong since my family buys cooked food more often than that (nagsawa na nga sa McDo at ChowKing mga kids) but I am sure there were other things in that report that made me and my husband really not like the lifestyle of those families who are here. I am not generalizing of course since not all families are like that but really, aw, I just can’t explain it well
I swear I have been trying to post here all week last week but couldn’t. But I think it’s working now.
Hey, is it damn if the peso rises and damn if it slumps? I think I read in the papers that the Central Bank is trying to cushion the impact of the dollar’s fall both for our local exporters and the ofws.
I have a few hundred dollars stashed up in an inactive account. I suppose this makes me a little bit poorer, hah. I don’t mind .. but then I am not a regular dollar earner.
i agree with ruth, i think it’s more of the impact of the weakening dollar.. but anyway, kakainis din talaga, my bro is an OFW so i know that he’s one of the ‘victims’ of this fluctuation. .. and since dollar is low, they have to pay our debts now para makabawas tayo sa utang at a lower cost.