SUVA (Pacnews)— The Asian Development Bank has warned Nauru of the “very real risk of a crisis” and an impairment to the provision of basic public services over the medium term if there is a substantial shortage of public funds.
In its Outlook 2002 report, the ADB cautioned, “despite the short-term boost provided by the financial assistance received for housing the asylum seekers, the medium-term outlook for the economy is weak” given the declining phosphate reserves and many years of disastrous fiscal management.
