Porgera, prices and access
The government of Papua New Guinea’s newly re-elected Prime Minister, James Marape will be focused on building investor confidence and getting Porgera reopened, as it begins its new term. In his first speech to
Economy
Opinion: Putting the Case Forward for Pacific Integration
Pacific Islands Forum (PIF) leaders identified and discussed the various elements that could constitute the 2050 Strategy at their annual meeting in Funafuti, Tuvalu in August 2019. They then tasked the Pacific Islands
Aging ports infrastructure under scrutiny
The shared challenge of aging ports infrastructure will be one of the key issues discussed at the upcoming Association of Pacific Ports annual conference in Saipan next month. Ports authorities recognise it is time to
New financial solution to strengthen accountability and service delivery in Kiribati
A new Integrated Financial Management Information System (IFMIS) for Kiribati is expected to usher in a new era of efficiency in public service delivery and accountability for the island nation. Specifically
Tonga at FEMM: disaster risk financing the priority
Islands Business reporter Sera Tikotikovatu-Sefeti has been talking to Pacific Islands ministers and officials at the Forum Economic Ministers Meeting about their economic priorities and regional opportunities. Here are
Regional economic ministers to meet: “the sense of urgency is real”
The 2022 Forum Economic Ministers Meeting which gets underway in Vanuatu this week will see regional ministers and officials discuss post-Covid economic recovery, alongside improved access to important dialogues for the
Guam’s ‘resurgent economy’: Guerrero
Guam Governor Lou Leon Guerrero on Wednesday painted a buoyant picture of Guam after four years of her tenure that was tested by the COVID-19 pandemic and sustained by an unprecedented stream of federal aid. Despite the
Additional US$20m for Disaster Recovery in Tonga
Five months on from January’s volcanic eruption and COVID-19 outbreaks, an additional US$20 million (approximately TOP46 million) will help strengthen Tonga’s fiscal, disaster and social resilience, the World Bank
Tonga Parliament passes largest annual budget
Tonga’s Parliament passed the 2022-2023 annual budget this week, reports Tonga Wires. Totalling $764.7 million pa’anga (US$328.36 million), it is the Kingdom’s largest ever annual budget. According to the Tonga
NZ High Court reject Pacific remittance companies plea
A judicial review of the Reserve Bank and New Zealand Finance Minister Grant Robertson’s actions around money laundering laws has failed, leaving money remitters carting bags of cash around in an attempt to keep the
The false Pacific dilemma of choosing between U.S. and China
For some observers, the signing of the China-Solomon Islands Treaty has opened a can of geostrategic worms for the Pacific (Australia, NZ and FICs), presenting a false dilemma that FICs ought to choose who is to be
Comment: Tonga Finance Minister warns of a ‘shrinking economy’
Tonga’s economy is in trouble, says Tonga Wires. The economic contraction during two years of border restrictions, has been accelerated by January’s devastating Hunga volcanic eruption and tsunamis, followed
PNG’s booming horticulture industry worth K3 billion
Papua New Guinea’s horticulture and fresh produce industry is estimated to be worth more than K3 billion (US$854 million) but there is potential for expansion, Fresh Produce Development Agency general manager Mark
Marshalls-U.S to hold first in-person Compact negotiation
U.S President Biden’s special envoy for Compact negotiations, Ambassador Joseph Yun, is expected to head a team of Americans who will visit the Marshall Islands next week for the first in-person negotiating session
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
Fiji is first Pacific country to join Indo-Pacific framework
Fiji is the first Pacific island nation and 14th country in the world to join the Indo-Pacific Economic Framework for Prosperity (IPEF). In a statement released Friday, U.S National Security Advisor Jake Sullivan
Vanuatu government eyes minimum wage increase
The Vanuatu Chamber of Commerce and Industry (VCCI) is against the decision to have private sector employees receive a severance pay at the rate of two months’ salary, against the number of years in service. The
Opinion: What do the stats tell us about the impacts of COVID-19 on Pacific economies – Q4 2021
Key economic indicators from the final quarter of 2021 indicate an uneven recovery for Pacific Island Countries and Territories (PICTs) economies from the COVID-19 pandemic, according to a new paper from the Pacific
Pacific labour mobility growth: winners and losers
One of Scott Morrison’s biggest announcements from last August’s 51st Pacific Islands Forum was to double the number of Pacific workers in Australia by March 2022 to at least 25,000. The government has come close to
Comment: Overcoming shocks to create a more resilient, inclusive future for Fiji
Fiji recorded its strongest post-independence period of economic growth in the decade before COVID-19, underpinned by rising productivity and investment, political stability, and a booming tourism industry. While the
Solomons tuna plant to create 5500 jobs
More than 5,500 jobs are set to be created with the construction of a major tuna processing plant in Solomon Islands says the International Finance Corporation (IFC). The Bina Harbour Tuna Processing Plant, to be built
Fiji: tourism up, but so is inflation
The Reserve Bank of Fiji Governor says despite uncertain prospects for the global economy, the recovery of Fiji’s tourism industry is providing momentum for domestic economic growth. However he has also flagged that
Debt distress talks at first Pacific debt conference
The First Pacific Regional Debt Conference earlier this month saw Pacific Island Forum Economic Ministers raise the need for urgent talks between Forum Island Countries, creditors, and development partners for proactive