Tax-News.Com Archive

Sponsored by: PEARSE TRUST
Independent advice on corporate and trust structures

ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

Vanuatu's New Government Sworn In
by Mary Swire, Tax-news.com, Hong Kong

23 April 2001

After a series of legal battles, Vanuatu finally has a new government. Last week, opposition leader Edward Natapei was overwhelmingly voted in as the country's new Prime Minister following an order from Acting Chief Justice Vincent Lunabek, who requested that Parliament convene to urgently resolve resolve Vanuatu's constitutional impasse. A no confidence motion in Prime Minister Barak Sope was thus put to the vote, which resulted in Sope storming out of Parliament.

The new government has sworn in 13 ministers, including new Deputy Prime Minister Serge Vohor, who was part of the Sope administration until he defected to the opposition recently. New faces include Minister of Foreign Affairs, Alain Mahe, and Finance Minister Joe Carlo.

The new administration has pledged to continue the reform programme that was abandoned by the previous government, Willie Oli being the minister put in charge of resurrecting the programme, which includes the implementation of money-laundering reforms, the establishment of a Financial Intelligence Unit, and major fiscal restructuring to improve the country's parlous public finances. The government has also established Vanuatu Business, which is to target new investments, whilst Daniel Bangtor has been chosen to try and restore investor confidence.


.

 


IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.