23 Nov 2009

Marshall's speaker to focus on private sector

11:22 am on 23 November 2009

The new Speaker of the Marshall Islands parliament has adopted a pro-business stance, promising to establish the first private sector advisory group for the legislative body.

Alvin Jacklick says it is urgent for the country to make better spending decisions than in the past.

He says the political strength of the country is based on its economic strength and that without private sector strength, the government will generate very minimal revenue

Mr Jacklick says business people have the knowledge about developing the economy, not the government.

Alvin Jacklick is a five-term senator who brokered a deal bringing together a coalition to elect President Jurelang Zedkaia following the first successful vote of no confidence in the previous President Litokwa Tomeing last month.

Last week the IMF told the Marshall Islands it's faces the risk of a major financial crisis when United States grant funding ends in 14 years.