FED: Downer concerned about Nauru's financial situation

AAP General News (Australia)
04-16-2004
FED: Downer concerned about Nauru's financial situation

Foreign Minister ALEXANDER DOWNER says the federal government's concerned about Nauru's
worsening financial situation.

Nauru President RENE HARRIS is expected to arrive in Australia today ahead of a meeting
with Mr DOWNER in Melbourne on Monday.

Mr DOWNER says the tiny Pacific island has run into financial difficulties but he won't
say what he'll discuss with Mr HARRIS.

Last month Mr DOWNER said Australia would provide $22.5 million to Nauru to help stabilise
the country's economy and strengthen law and order.

But American financial giant General Electric Capital Corporation has appointed receivers
to recover significant debts racked up by the Pacific island republic in relation to its
offshore properties.

AAP RTV kjd/nf/mj/lma

KEYWORD: NAURU AUST DOWNER (SYDNEY)

2004 AAP Information Services Pty Limited (AAP) or its Licensors.