5 Oct 2017

Cook Islands first 'developed' Pacific Island nation

From Morning Report, 6:45 am on 5 October 2017

The Cook Islands is about to become a 'developed' nation. The OECD will officially declare the 15 islands a developed nation at the end of next year. It is a first Pacific island country to be deemed a developed nation and it will pose challenges for the Cooks, who will no longer be able to access some funding offered to developing nations. Cook Islands Finance Minister Mark Brown told RNZ Pacific's Don Wiseman the country will need to learn how to do business in different ways as there is nothing they can do about it.