State debt is K51billion, says BPNG
Papua New Guinea’s total debt at the end of June was K51billion (US$14 billion), which is expected to increase to K54 billion (US$15 billion) by the end of the year, according to the Bank of PNG. The K54 billion
debt
Air Vanuatu confirms interim plan with lessor to safeguard 737
The national airline Air Vanuatu has confirmed that its Boeing 737 is at risk of repossession by its lessor. Air Vanuatu owed USD$8 million lease payments to American Leasing Company (ALC), which is approximately VT897
Air Vanuatu YJ-AV12 twin-otter repossessed
Air Vanuatu’s YJ-AV12 twin-otter has been redelivered to Hevilift, a Papua New Guinea based Aviation Service Business which owns the aircraft, last week. A reliable source confirmed the aircraft was repossessed
Opinion: Pacific aviation is struggling to take off after the pandemic – how can the ‘blue continent’ stay connected?
With Samoa fully reopening its borders on August 1, another Pacific country moved tentatively forwards after two years of border closures and little or no international tourism. But opening up is not as simple as
Pacific youth raise concerns over debt levels
“25 years from now – my children, your grandchildren are at a risk of potential tax and financial burdens that will be crippling if nothing is done today to reduce our region’s growing debt.” This was the
Don’t saddle Pacific Islands with disaster debt
Pacific Islands are facing a serious debt crisis that has been worsened by the Covid-19 pandemic and the resulting shutdown of the tourism industry. Research based on International Monetary Fund country reports shows
The spiralling debt crisis, and what to do about it
Global debt has reached an unprecedented high, surpassing levels experienced in the infamous 1980s crisis. For debt-burdened countries, the COVID-19 pandemic has severely impacted their repayment capacity due to
Debt traps and doing business
Tourism may be the poster child of the Pacific’s post-COVID economic crisis, but it’s not the only sector that has suffered. A stark example of the challenges that border closures are causing came in reports from
Debt traps and doing business
By Samantha Magick Tourism may be the poster child of the Pacific’s post-COVID economic crisis, but it’s not the only sector that has suffered. A stark example of the challenges that border closures are causing came
Fiji, the World Bank and debt
When Fiji’s Minister for Economy delivers his budget address this evening many eyes will be on figures around the country’s debt-to GDP ratios. This week, Pacific Islands Forum Economic Ministers were preoccupied
How to manage a $1.6 billion debt and other challenges
Pacific finance and trade leaders will have critical meetings this week to discuss how they can rebuild the region’s economies following the economic devastation wrought by COVID-19. Managing increasing debt burdens
Pacific Economic Ministers call for debt relief and donor flexibility
Pacific Islands Forum Economic Ministers are asking development partners to provide debt relief, and increase general budget support as island nations struggle with the economic impacts of coronavirus pandemic. At the
