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
COVID-19:Tackling the pandemic of inequality in Asia and the Pacific
For countries in Asia and the Pacific, meeting the challenge of COVID-19 is challenging due to deeper structural economic
Tonga lockdown restrictions eased
Lockdown restrictions in Tonga will be eased with businesses able to operate for three days starting on Saturday, Tuesday, and Thursday, said the Prime Minister Hu’akavameiliku Siasoi Sovaleni. This means businesses
Millons lost during Solomon Islands lockdowns
Solomon Islands has lost millions of dollars in tax revenue as a result of the recent COVID-19 lockdowns imposed at the beginning of community transmission last month. Prime Minister Manasseh Sogavare announced the
Solomon Islands’ juggling act
By Georgina Kekea Solomon Islands was COVID-19 free until December 2021. Despite recording positive cases in isolation centres, the spread to the community was avoided. It was not until January 2022 that Prime Minister
Low vax rates threaten PNG economy
By Kevin McQuillan COVID-19 will remain a threat to the Papua New Guinea economy throughout 2022, due to the low rate of vaccination and poor health infrastructure, compounded by a lacklustre foreign investment climate.
COVID behind Fiji economy’s ‘severe recession’, but ratings agency predicts economy to start recovering next year
COVID-related restrictions and a relatively large fiscal deficit has prompted S&P Global to lower its rating of the Fiji economy from BB-minus to B+, although it expects the Fiji economy to recover next year.
Vanuatu at 41
Vanuatu was again able to throw the need for social distancing and mask-wearing to the wind as its people sang and danced to celebrate 41 years of Independence on July 30. Unlike its neighbours—Australia, New
Pacific islands: Economic outlook
COVID-19 continues to wreak havoc on the region’s economies- but what is the Pacific islands’ economic outlook for the remainder 2021? ANZ economists Kishti Sen & Tom Kenny have this overview. The
Business briefs: Digicel Pacific “an attractive asset”
The CEO of Australian telco Telstra says Digicel Pacific is an attractive asset. Andy Penn has told the Australian Financial Review that talks continue on potentially acquiring Digicel Pacific. “We would only do it
Vanuatu: taking the pandemic in its economic stride
Economic data out of Vanuatu indicates that the country’s economy has been less affected than expected by the COVID-19 pandemic. No doubt there has been real economic pain. But the latest GDP figures show a fall of
Nauru determined to back Deep Sea Mining
With the COVID-19 Pandemic maintaining its crippling grip on the Pacific, legislators have struggled to find alternative sources of income to buoy national economies. On the rocky outcrop of Nauru in the Central
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
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
Economist says Guam’s economic future remains unpredictable
Guam’s post-lockdown economic activity may have returned to “some semblance of normalcy or some notion of what it was before,” but unpredictable variables are clouding the long-term outlook for the island, Bank of
Cook Islands passes budget
Cook Islands parliament has passed what Prime Minister Mark Brown has dubbed “a budget of revival.” The US$212 million budget includes an additional US7.7 million allocation for government agencies than was
PNG economy may recover when second LNG project begins, but debt will rise
Ratings agency, S&P Global Ratings expects the Papua New Guinea to recover when the second LNG project commences next year, but has maintained a Negative outlook for the economy. In its latest review of the South
