Fiji’s economic growth steady
Fiji’s economic recovery continues despite projections from the International Monetary Fund that 2023 will be a tough year. Governor and Chairman of the Reserve Bank of Fiji Board, Ariff Ali, stated that the growth is
Economy
Solomon Islands not ready to graduate from LDC status
Solomon Islands Foreign Minister, Jeremiah Manele says his country is not ready to graduate from its least developed country status. The Minister met with a team from the UN Inter-Agency Task Force on Support for
Cabinet approves establishment of Samoa Export Authority
Samoa’s Cabinet has approved the establishment of the Samoa Export Authority (SEA). This was confirmed by the Deputy Prime Minister Tuala Tevaga Iosefo Ponifasio. He said export development was one of the
Tourism continues to buoy Fiji’s economy, but inflation still 5.2%
The Reserve Bank of Fiji says the country’s economy continues to buck international trends on the back of a “marked recovery in tourism.” In November 2022, more than 560,700 international visitors arrived in Fiji,
Negative economic growth on Pacific countries due to COVID-19
The Pacific Islands experienced negative economic growth of -2.3 percent in 2020 due to the COVID-19 pandemic, stated the International Labour Organisation (ILO) Director General, Gilbert F. Houngbo in a report tabled
One year on: Fiji’s tourism sector ‘exceeding expectations’
Fiji’s tourism sector leaders are celebrating the one-year anniversary of Fiji’s reopening to tourists, having seen over half a million tourists visit the nation since December 1, 2021. Covid-19 ravaged Fiji’s
Opinion: The “polycrisis” and global devt finance: options and dilemmas
With a worsening hunger crisis spurred by food and fuel inflation, war in Europe, slowing global growth and rising debt distress, ongoing COVID-related supply chain disruptions, an unfolding climate change reckoning,
Solomon Islands benefit ‘significantly’ from labour scheme
Solomon Islands Ministry of Foreign Affairs and External Trade (MFAET) has acknowledged that among the most significant benefits of the PACER plus agreement to the Solomon Islands is the labour mobility scheme,
PNG economy forecast to pass K110 billion in 2022
The PNG economy is estimated to go pass a K110 billion (US$31 billion) in 2022. Prime Minister James Marape speaking at the 2022 PNG Update hosted by the University of PNG in Partnership with the Australia National
Bougainville open for business: President Toroama
Bougainville is open for business. This was the undertaking given to potential investors by the Autonomous Bougainville Government President Ishmael Toroama when opening the 2022 Bougainville Trade and Investment
Opinion: The Pacific, emerging from COVID, slowly
The impact of COVID-19 on the economies of the Pacific island region has been much more severe than on any other region or group of countries. The Pacific contracted by 5.4% between 2019 and 2021; other regions or
An ominous warning for PNG
Papua New Guinea: “When we don’t have any of these copper and gold mines anymore, where are we headed?” This quote is by Jerry Garry, Managing Director of PNG’s Mineral Resources Authority (MRA). According to Mr
UNDP calls for debt relief now for 54 countries
Fifty-four countries that are home to more than half of the poorest people on the planet need urgent debt relief now, the UN Development Programme (UNDP) said in a paper published on Tuesday that calls for rich
Losing Samoa police to seasonal work overseas: Schuster
Samoa Minister for Police & Prisons, Faualo Harry Schuster has raised concern over the loss of police officers to the Recognised Seasonal Employment (RSE) workers scheme. Faualo told Talamua that it is an issue that
Opinion: More of the same is not the answer to building influence in the Pacific
Following almost a decade of geopolitically driven “stepping up”, ‘uplifting’, ‘resetting’, and “stepping up across the board”, it appears that Western governments believe more of the same will achieve
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
Solomon Islands may remain least developed till 2024: Manele
Solomon Islands may not shed its least-developed country status by the 2024 target after suffering economic setbacks, Foreign Minister Jeremiah Manele said Monday. More than 40 countries are classified by the UN as
Look north to PNG, Fiji urged
The Papua New Guinea economy is expected to “double in size in the next 10 years” says ANZ Pacific Economist, Dr Kishti Sen. And that is a huge opportunity for Fiji and other Pacific Island economies. While Dr Sen
Samoa economy in ‘historical-high’ recession
Samoa has recorded a historical-high recession in the FY2021 with the country’s border closure resulting in a sharp contraction of tourism, says the World Bank. In its 2022 Economic Update for the Pacific Islands
Palau’s 2023 Budget law passed
Palau budget FY 2023 was signed into law on September 22 at the Ngerulmud Capital rotunda after a brief signing ceremony. Senate and House of Delegates worked round the clock to get it ironed out in time for President
Solomon Islands tuna production rises despite COVID
Tuna production in the Solomon Islands increased this year despite a significantly smaller fish catch. The latest Central Bank of Solomon Islands (CBSI) quarterly report shows that the total catch dropped by 22% due to
Opinion: Assessing Remittances Potential to Build Climate Resilience in the Pacific
While contributing very little to global warming, Pacific Island nations are among the most vulnerable to the impacts of climate change, already experiencing extreme climate-induced disasters such as tropical cyclones.
A note from the editor
This month, Islands Business was able to attend the Forum Economic Ministers meeting in Vanuatu. You’ll see coverage of some of the big issues discussed at FEMM—climate and resilience financing and supply chain