economy

Vanuatu's airport bringing down its economy

Air New Zealand hasn't flown there since January, and Mr Salwai says the country's problem-plagued airport runway has hit the economy hard - however he expects resurfacing to begin early next year.

Mr Salwai says he understands Air New Zealand's refusal to resume services, but says if passenger services are not running, neither should charter flights.

"It affected the whole economy of the country," says Mr Salwai.

The runway has required multiple emergency patch-up jobs, and regular sweeping to ensure asphalt isn't sucked up into jet engines.

Minista blong faenem mo Ikonomic Manejmen Pikioune I peintem pitja blong ikonomi blong Vanuatu

Hemi se lukluk i stap se bambae grot blong ekonomik aktiviti raon long wol baebae hemi go antap moa bitim wanem we International Monetary Fund (IMF)i bin expektem bifo, espeseli insaed long ol emerging maket mo ol developin kaontris.

Taem hemi stap prisendem wan global economic aotluk long palamen bifo preentesen blong national badjet, minister Pikioune I talem se ol impruvmen long ekonomi blong ol kaontri ia, oli kontribiut long wan globol growth blong 3.6 pesen long yia ia 2016, mo IMF I expeketem wan smol rikavari blong 3.8 pesen long 2017.

Governments urged to consider legislative response to virtual currencies

This was one of several recommendations issued today by a Commonwealth working group set up to address  these currencies.  

After a three-day conference in London, the newly-formed Commonwealth Virtual Currencies Working Group concluded that virtual currencies have the potential to benefit countries and drive development.

Deputy Prime Minister vows to protect visitors, investment

“You know that Vanuatu is not strictly Port Vila, we also have beautiful islands out there."

The Deputy Prime Minister made the remarks in his welcome address to Tok Tok 2015 buyers from Australia during breakfast at Grand Hotel, courtesy of Tok Tok Vanuatu historical sponsor, ANZ Bank Vanuatu and Vanuatu Tourism Office yesterday.

His timely remarks come on the heels of extensive media coverage of the Tanna Lodge fire during which 21 Australian tourists had to be evacuated from the southern island to Port Vila for safety reasons this week.