. 24/7 Space News .
WATER WORLD
Cook Islands does not want China debt write-off
by Staff Writers
Avarua, Cook Islands (AFP) Aug 24, 2018

The Cook Islands on Friday rejected suggestions small Pacific island nations should band together and pressure China to write off loans given under Beijing's foreign aid programme.

Tonga Prime Minister Akilisi Pohiva floated the idea earlier this month, saying repayments were eroding national budgets and the issue should be discussed at next month's Pacific Islands Forum (PIF) in Nauru.

But his Samoan counterpart Tuilaepa Sailele Malielegaoi immediately dismissed the call and this week Cook Islands Finance Minister Mark Brown adopted a similar stance.

"I believe the Samoa prime minister shares the same view as the Cook Islands, as we do not agree with a call for China to forgive all Pacific debt," Brown told AFP.

Chinese aid in the Pacific has ballooned in recent years with much of the funding coming in the form of loans from Beijing's state-run Exim Bank.

Pohiva raised concerns that small developing nations would struggle to repay the debt and could face asset seizure by Beijing, although he later backtracked and issued a statement praising the help China has given to his country.

Brown said there had been no regional discussion about the China debt issue ahead of the PIF meeting in Nauru.

He said the Cook Islands carefully managed its loans and was ahead of its debt servicing schedule.

The Lowy Institute think tank estimates the Cook Islands, a nation of about 13,000, received about $48 million in aid from China in 2006-16, almost 60 percent of it in concessional loans.

Australia and New Zealand had raised concerns recently about China's growing influence in the Pacific, ramping up their own aid efforts in response.

str-ns/grk/rox/sls

ANZ - AUSTRALIA & NEW ZEALAND BANKING GROUP


Related Links
Water News - Science, Technology and Politics


Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Monthly Supporter
$5+ Billed Monthly


paypal only
SpaceDaily Contributor
$5 Billed Once


credit card or paypal


WATER WORLD
Swimmer resumes Pacific crossing record attempt
Tokyo (AFP) Aug 22, 2018
A Frenchman attempting to become the first person to swim across the Pacific Ocean said Wednesday he was resuming his bid, after storms forced him to suspend the ambitious undertaking. "Back in the water today! After avoiding a typhoon we're finally back at the swim point and continuing on with the swim," Ben Lecomte tweeted. Lecomte set off from Choshi in Japan on June 5 and planned to swim across the ocean to San Francisco in six to eight months. But nearly two months into the epic journey ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

WATER WORLD
Technologies for deep space survival

Pristine no more: cruise ships, crowds swamp Montenegro

NASA Administrator Views SLS Progress During First Visit to Marshall

What is NASA's Heat Melt Compactor?

WATER WORLD
Stratolaunch announces new launch vehicles

Stennis Begins 5th Series of RS-25 Engine Tests

RS-25 Engine Tests Modernization Upgrades

Aerojet Rocketdyne Expands Solid Rocket Motor Center of Excellence at Arkansas Facility

WATER WORLD
NASA's InSight passes halfway to Mars, instruments check in

Six Things About Opportunity'S Recovery Efforts

The Science Team Continues to Listen for Opportunity as Storm Diminishes

Planet-Encircling Dust Storm of Mars shows signs of slowing

WATER WORLD
China unveils Chang'e-4 rover to explore Moon's far side

China's SatCom launch marketing not limited to business interest

China to launch space station Tiangong in 2022, welcomes foreign astronauts

China solicits international cooperation experiments on space station

WATER WORLD
Three top Russian space industry execs held for 'fraud'

ISRO to launch GSAT-32 in Oct 2019 to replace GSAT-6A which went incommunicado days after launch

'We're at Beginning of New Phase of Utilizing Space For Peaceful Purposes'

NASA invests in concepts for a vibrant future commercial space economy

WATER WORLD
Researchers discover link between magnetic field strength and temperature

Actuation gives new dimensions to an old material

Specially prepared paper can bend, fold or flatten on command

Crack formation captured in 3D in real time

WATER WORLD
Discovery of a structurally 'inside-out' planetary nebula

Under pressure, hydrogen offers a reflection of giant planet interiors

Scientists discovered organic acid in a protoplanetary disk

Iron and titanium in the atmosphere of exoplanet orbiting KELT-9

WATER WORLD
Study helps solve mystery under Jupiter's coloured bands

Million fold increase in the power of waves near Jupiter's moon Ganymede

New Horizons team prepares for stellar occultation ahead of Ultima Thule flyby

High-Altitude Jovian Clouds









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.