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Released Date - February 04, 2010
SOL – ECONOMY: SIBC PACNEWS BIZ: Thurs 04 Feb 2010
Economist advice Pacific on managing resources
04 FEBRUARY 2010 HONIARA (SIBC) ---- A consultant for the Asia Development Bank (ADB) says small Pacific Islands countries cannot change world events, however, they can manage and control what they have.
Former Governor of Reserve Bank Fiji, Savenaca Narube made the comments while making a presentation this week in Honiara in a talk organised members of the Solomon Islands Economic Association.
During the talk Mr Narube presented some of the key challenges facing the Pacific region and how to survive them.
He said people live in turbulent times where the economy is being suffocated by the drop in exports, remittances from abroad, foreign reserves and government revenues.
"So in the region, where do we really stand? We are not definitely not the cause of any of the crises, that we all agree. We are in fact the victims, don't you agree. We have nothing much to do with the global financial crisis. It was those in the United States that started it, so we are caught that the end of the stick.”
Mr Narube said the people are paying the price through loss of jobs, income, increase in poverty and so forth…PNS (ENDS) |
