The chair of the board of French Polynesia's Social Security Fund, CPS, says he won't vote in favour of a proposed loan to the cash-strapped government.
Ronald Terorotua says while the CPS could lend money towards investments, he is against a 55 million US dollar loan being given to the government as it may use the money to cover running expenses.
The bid was put to the CPS as the government has reportedly been unsuccessful in getting more funds from the French Development Bank.
Mr Terorotua says the CPS is not a bank.
His statement comes as a group of pensioners is petitioning the CPS not to give in to the government.
Mr Terorotua says he would like the CPS council to have a public vote for the public to see where its members stand on the issue.
