Samoa no longer in ‘debt distress’: Minister
Samoa has been taken off the list of “debt distress” nations and is now eligible to apply for loans from the International Monetary Fund or the World Bank. The Minister of Finance, Lautimuia Uelese
Economy
Salwai prioritises revenue and instability curse
Charlot Salwai Tabimasmas is Vanuatu’s third prime minister to be elected in less than a year. Salwai is no stranger to the driver’s seat. His last reign was from 2016 to 2020 when he managed to successfully steer
China’s declining aid to Pacific islands increasingly goes to allies, think tank reports
China’s declining aid to the South Pacific is increasingly targeted toward its political allies in the region as appetite there for Chinese credit declines and competition grows with the U.S. for influence, an
New Australian Pacific visa scheme gets green light
Thousands of Pacific islanders will be offered a path to Australian life after a government effort to boost regional employment and address shortages was given the green light. Immigration Minister Andrew Giles secured
Samoa Minister says no to ‘marijuana export’
Samoan Minister of Agriculture and Fisheries is opposed to any moves to promote the medicinal use of marijuana, saying it will not happen any time. The views of La’aulialemalietoa Polataivao Schmidt were sought on
China’s Xi supports stronger international role for Papua New Guinea
China’s President Xi Jinping said the country supports Papua New Guinea in playing a greater role in international and regional affairs, and is willing to strengthen ties. Xi made the comments in a meeting with
Opinion: The Pacific’s carbon credit market – promise and challenge
The global thrust towards sustainability is irrefutable. From the vantage point of Pacific Island Countries (PICs), we’re poised at the forefront of a market with vast potential: the carbon credit market. As the
Chinese premier holds talks with PNG PM Marape
Chinese Premier Li Qiang on Monday held talks with Papua New Guinea Prime Minister James Marape, who is in Beijing to attend the third Belt and Road Forum for International Cooperation and pay an official visit to
Joint feasibility study set for a possible free trade agreement between PNG and China
A joint feasibility study is set to begin next week for a possible free trade agreement between Papua New Guinea and China. According to The National, International Trade and Investment Richard Maru said the cost of the
Commonwealth Finance Ministers meet in Marrakesh to tackle overlapping global crises
Commonwealth Finance Ministers met this week in Marrakesh, Morocco to discuss the reform of the global financial architecture, with particular attention to two pivotal areas, scaling up development finance and
World Bank targets dirty subsidies to fund climate action
The World Bank is seeking to persuade governments to take money away from subsidies for fossil fuels and invest it in good causes like climate change. Governments around the world currently spend over half a trillion
De-banking having a ‘severe impact’ on Pacific Islanders
The region’s economic ministers say the expiry of correspondent banking relationships (CBR) is having a severe impact on the lives of Pacific Islanders, including seasonal workers, micro, small, and medium
COVID19 a wake-up call for Pacific countries to strengthen social security systems
The COVID19 crisis was a wake-up call for many Pacific Island Countries to enhance their social security systems. According to the Asian Development Bank (ADB), its 14 Pacific Developing Member Countries (PMDCs) were
Labour mobility a ‘double-edged word’: Samoa Chamber of Commerce President Seulupe
Samoa’s private sector members are still recovering from the COVID-19 pandemic and are unable to take on the added expense of a minimum wage increase while navigating multiple challenges. That is the view of
Fiji National Provident Fund acquires popular Garden City Complex
Fiji’s National Provident Fund has acquired the popular Garden City complex at Carpenter Street in Raiwai. The property, which sits on a freehold land area of 3 acres and 1.7 perches, is located just 2.5
Federal programmes in Guam facing uncertainties amid looming shutdowns
Federally funded programmes on Guam are facing uncertainties as the U.S. government heads toward a shutdown that will disrupt many services nationwide by 01 October. “At this point there are no real clarifications of
Ok Tedi life extension approved
The OK Tedi Mining Limited (OTML) in Papua New Guinea has had its mine life extension approved from 2023 to 2050, with an expected dividends payments in excess of K30 billion (US$8.2 billion), says chief executive
New Caledonia’s nickel sector faces energy crunch
French President Emmanuel Macron’s recent visit to New Caledonia highlighted the strategic importance of the vast reserves of nickel in the French Pacific dependency. Speaking in Noumea, President Macron said:
Pacific economies: driven to the brink of change
FANALEI. A 2-kilometre-wide island in the Solomon Islands. Once home to 500 people. Now, almost empty. The reason a young student and her peers are taking on the world. Just over 2000 kilometers away, a man in his
Solomon Islands granted three years LDC graduation extension by UN
Solomon Islands has been granted three years’ extension by the United Nations to prepare for least developed countries (LDCS) graduation. This was made possible through a Resolution which was adopted by the General
BSP facing more system issues than expected
Bank South Pacific (BSP) has come out with an apology and explanation on the current technical difficulties experienced in Papua New Guinea since the implementation of the new Information Technology core banking system
Call for a review of the ‘regional architecture’ to address the needs of Forum Members
With so many regional plans, strategies, frameworks – and now the 2050 Strategy, some Pacific countries are concerned with how benefits are flowing to member countries. There are now calls to review the ‘regional
Inflation, interest rates cloud post-pandemic Pacific growth: World Bank
The resumption of tourism, higher public investment and construction have fuelled the Pacific region’s economic recovery from COVID-19 but a combination of persistently high imported inflation and interest rate hikes