6 May 2013

Vanuatu MP warns on Reserve Bank Governor's sacking

5:56 am on 6 May 2013

A Vanuatu opposition MP, Charlot Salwai says the government's decision to fire the Reserve Bank Governor should be reversed or it will cost the country dearly.

The government of Moana Carcasses recently announced it was terminating Odo Tevi's appointment, saying he has held the post for too long.

The opposition has strongly criticised the decision, saying that laws stipulate no limit to how long the position can be held for, and that Mr Tevi's experience as Governor helped Vanuatu's economy grow during the global financial crisis.

Mr Salwai says it was just this year that, upon his advice as Finance Minister, Mr Tevi's contract was renewed.

"Advice was given to Moana to reconsider his decision otherwise it will be very expensive to pay the contract of Odo. The financial implication can be heavy: it's going to be around 100-million kina."