Samoa To Gain Developing Country Economic Status In January 2014

 

The Pacific nation is currently graded as a Least Developed Country, but will join a small group of countries that have made the jump to Developing status.

The change will mean Samoa is eligible for less overseas aid and will forfeit other international concessions that go to Least Developed Countries.

Prime Minister Tuilaepa Sailele told Radio Australia the economy should be strong enough to ensure there are no shocks for the people of Samoa when the change occurs.

“We shall continue to exercise prudent management of our monetary and economic policies and structural reforms,” Mr Sailele said.

Mr Sailele believes his government’s smart economic management since its election in 1982 has put Samoa in a strong position to make the jump.

However, he says the threat that climate change poses to Pacific states such as Samoa means the availability of international aid is still crucial.

“We cannot really be regarded as being completely out of economic problems brought by natural disasters.”

“We have been assured by our donors that there shall not be any radical change, recognising of course that Samoa is a very vulnerable country to climate change.”

SOURCE: Radio Australia