Debt traps and doing business

Pacific Kava
The Pacific has hopes for high value crops such as kava

By Samantha Magick

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 Cook Islands this month, where farmers are reportedly being  forced to kill off oysters because off a lack of highly-skilled Japanese technicians in country.

It’s a story that is repeated across the region. And it’s prompted business leaders to ask the region’s governments to state clearly what a pathway for economic recovery looks like. After vaccinations, then what?

Debt forgiveness, resilience funding, ecommerce, freight costs, correspondent . . .

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