7 Jun 2013

Nauruan voters concerned about dispersment of foreign investment

9:57 am on 7 June 2013

A critical issue facing Nauruans as they go to the polls tomorrow is how the remaining funds from the island's once huge foreign investments are dispersed.

The election, which comes amid a state of emergency, follows months of political stalemate.

"The state of emergency has curbed local media discussion of political issues but one MP standing again, Baron Waqa, [WANGA] says the people are concerned about how the incoming government handles the investment money."

These investments have been in receivership for years but there is an amount of around 80 million US dollars left over and it is due to go to landowners.

Clearly it belongs to the people. It is their money that was invested for them. It is unfortunate that we lost a great deal through bad dealings earlier on and the receivers have finally paid off everyone and the money is ready and awaiting the decision of the incoming government on what to do with it.