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Vanuatu

Vanuatu privatization came in the form of a Commission of Inquiry into the sale of the PNG Banking Corporation to Bank South Pacific. A Queen's Council from Australia was appointed and is expected to report by 2003. Many expect the commission to report collusion among key decision-makers in the Morauta government and the new owners of the PNG Banking Corporation. As the year drew to an end, the general feeling in Port Moresby was one of despair. The political system had not changed despite the general elections; the "new" prime minister was in fact the founder of the nation; law and order continued to deteriorate; and the economy had descended to new lows. According to almost every social and economic indicator, the nation had gone backwards. But in true Melanesian style, the political elites still hope that "masta" Australia and other aid donors will again bail out Papua New Guinea in 2003. The word "aid fatigue" was neither understood nor heard in the corridors of power in Waigani. number of potentially destabilizing events, including a national election, the jailing of a former prime minister for fraud, and lengthy wrangling over the appointment of the new commissioner of police. Although http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Contemporary Pacific University of Hawai'I Press

Vanuatu

Jowitt, Anita
The Contemporary Pacific , Volume 15 (2) – Aug 7, 2003
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Publisher
University of Hawai'I Press
Copyright
Copyright © 2003 University of Hawai'i Press.
ISSN
1527-9464
Publisher site
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Abstract

privatization came in the form of a Commission of Inquiry into the sale of the PNG Banking Corporation to Bank South Pacific. A Queen's Council from Australia was appointed and is expected to report by 2003. Many expect the commission to report collusion among key decision-makers in the Morauta government and the new owners of the PNG Banking Corporation. As the year drew to an end, the general feeling in Port Moresby was one of despair. The political system had not changed despite the general elections; the "new" prime minister was in fact the founder of the nation; law and order continued to deteriorate; and the economy had descended to new lows. According to almost every social and economic indicator, the nation had gone backwards. But in true Melanesian style, the political elites still hope that "masta" Australia and other aid donors will again bail out Papua New Guinea in 2003. The word "aid fatigue" was neither understood nor heard in the corridors of power in Waigani. number of potentially destabilizing events, including a national election, the jailing of a former prime minister for fraud, and lengthy wrangling over the appointment of the new commissioner of police. Although

Journal

The Contemporary Pacific – University of Hawai'I Press

Published: Aug 7, 2003

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