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Letter: Government not seeking a loan
Friday 27 October 2023 | Written by Supplied | Published in Letters to the Editor, Opinion
Your article of Monday 23rd October entitled – Cook Islands seeks US loan to develop seabed mineral sector – reports that the Cook Islands is seeking a loan from the US International Development Finance Corporation (DFC), the implication being that government is seeking a loan to develop the seabed mineral sector.
This is not the case. The DFC works through the private sector and not the sovereign government in delivering its support. This is clearly articulated at https://www.dfc.gov/who-we-are . The perception of increasing debt within the context of economic recovery and related challenges can cause undue anxiety and is demoralising. I urge that CINews is thorough in its journalism to ensure that it is truly as solid as the islands you stand for.
Garth Henderson
Financial Secretary