Keeping The Bank Door Open For Pacific Peoples

By Adrian Orr

Now is the time for New Zealand banks to act with courage to keep providing banking services, including money remittances, to the Pacific Islands open.

The scale and complexity of the challenges facing Pacific Island countries are significant, including climate change and the severe economic impacts of Covid-19. With international travel and trade disrupted by the pandemic many Pacific Island countries are facing tough times.

That means the economic importance of Pacific people in New Zealand being able to send money back to their home countries through remittances and maintaining financial corridors and services into the South Pacific countries continues to grow.

New Zealand bank boards and chief executives need to show courage by supporting banking services and remittances with the ultimate goal of a stable, prosperous and resilient South Pacific region.

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