28 Nov 2018

Samoa confident of managing $US420m debt

4:19 pm on 28 November 2018

Despite a total government debt at $US420 million, Samoa's minister of Finance, Sili Epa Tuioti, has assured the public the amount is manageable.

Samoa's Minister of Finance Sili Epa Tuioti.

Samoa's Minister of Finance Sili Epa Tuioti. Photo: Samoa Government

The Samoa Observer reported the country's biggest creditor was China, which it owed about $US160 million.

This is more than its debts to the Asian Development Bank, the World Bank and Japan combined.

Sili said he was confident Samoa could afford to pay off its loans.

The government has only borrowed to build infrastructure that will enhance the social economic well-being of the people and drive the economy's growth, he said.

"We consider what the future holds, what would Samoa be like in the next 20-30 years, and we build the infrastructure that is going to cater for and meet that demand," Sili said.