Larger aircraft to be able to land at Bauerfield, thanks to additional funds from World Bank for Vanuatu Aviation Investment ProjectPosted: January 11, 2017
The World Bank announced USD 14 million (Approx. Vt 1.5 billion) in additional funding to strengthen air transport and an expansion of works under the Vanuatu Aviation Investment Project yesterday. Vanuatu’s Finance Minister Gaeton Pikioune says Read the rest of this entry »
[Story updated 4/11/2016 to correct the earlier version’s errors of fact. Vanuatu Daily Digest sincerely apologises to all readers for this regrettable error]
The Commission of Inquiry into VNPF is being extended by two months to uncover the details behind Vt 4.454 billion of failed investments made by the national provident fund. The Commission of Inquiry is investigating alleged mismanagement and illegal activities of former and present staff of VNPF. Chairman of the Commission of Inquiry Olivier Fernandez and Assesssors Anita Jowitt and Tony Naliupis are examining the failed investments, which represent 32% of the total funds invested by VNPF between 2007 and 2014. (Daily Post)
We can expect a Chinese cruise vessel next January. Deputy PM and Tourism Minister Joe Natuman made the announcement during his visit to Read the rest of this entry »
IMF and World Bank ready to aid in reforms to have Vanuatu removed from the ‘grey’ list of countries needing to update anti-money laundering and countering financing of terrorism reporting for which deadlines have been set for June next year. Finance Minister Pikioune was accompanied by a delegation for the annual talks Read the rest of this entry »
Vanuatu is not yet being blacklisted as alleged by the Vanuatu Financial Centre, yesterday, the Office of the Prime Minister states. Vanuatu is in the process of improving its compliance processes where money laundering and proceeds of corruption are concerned. This puts us on a grey list of jurisdictions being ever more closely watched by the OECD. The government is strongly emphasizing that financial stakeholders must abide by legislation and policy directions and work with government to meet international requirements. The Vanuatu Finance Centre is seen as stubborn in its refusal to comply in various ways with legal requirements. The government Financial Intelligence Unit is being increased in strength to help compliance.
Some of the detained former MPs have been transferred to the low risk communal facility. Those with Read the rest of this entry »