Nauru’s Finance Minister David Adeang last week highlighted the need for Pacific island countries to explore new innovative ideas as global economies continue to face strong headwinds, due to the heightened US-China trade tensions and geo-political tensions, especially in the Middle-East.
“Global growth appears to be stabilising, and is generally projected to pick up moderately later this year and into 2020. However, growth remains low and risks remain tilted to the downside,” Adeang said.
“This global economic phenomenon will have implications for our economies in the Pacific region.”
He said regional ministers have significant challenges ahead of them, including:
“global economic shocks on our economies through linkages such as trade, tourism, remittances, foreign direct investments, and official development assistance,” said Adeang.
Photo PIFS. Caption: Forum Foreign Ministers Meeting in Suva