The spokeswoman for the Nauru Government says one of its properties in Australia is on the market and expected to sell by the end of the month.
Receivers are in control of five Australian properties bought by the Nauru Phosphate Royalties Trust as the American General Electric Capital Corporation moves to recover 239 million Australian dollars of debt from Nauru.
The Government's spokeswoman, Helen Bogdan, says the Mercure Hotel in Sydney is on the market and expected to sell for 80 million australian dollars on June 24th.
She says the Governnment would rather refinance its debt than sell any of its properties, but is realistic.
"Well I think the Government definitely wants to refinance the properties that are held by the trust, but I image if they lose the Mercure it will assist them in repaying some of the debt. But I don't know that the refinancing will be achieved by that time."
Helen Bogdan, the spokeswoman for the Nauru Government.
