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Pacific Nations Must Boost Structural Reform to Withstand Global Crisis – ADB Study

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Navigating the Global Storm: A Policy Brief on the Global Financial Crisis [23 October 2008]

  • “Developing Pacific nations must intensify their structural reform efforts to achieve sustainable economic growth and protect themselves from the global economic crisis, a new Asian Development Bank (ADB) study says. The Pacific’s banking system is well shielded from the most immediate effects of the global financial crisis, as it has generally sound health and raises and invests most of its funds within the region. However, the island economies are not immune to the ripple effects of a global slowdown – with exports and tourism likely to weaken, overseas remittances expected to decline, and pricing to international capital seen to rise. Offshore investments of national trust funds and pension schemes have fallen in value.
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