21 Apr 2004

Nauru government wins new help from Australia to sort out the country's finances

10:23 am on 21 April 2004

A spokesperson for the Nauru Government says it's not known how long it might be before the latest Australian aid initiative provides tangible results for unpaid workers in the near bankrupt country.

Helen Bogdan says the Nauru government is grateful for the latest assistance package, negotiated after American corporation General Electric called in receivers on debts of $230 million.

Ms Bogdan says the Australian government is not providing cash, but sending treasury officials to sort out the country's troubled finances.

She says that will be a relief for people on Nauru, many of whom have not been paid for some time.

"I imagine the people in Nauru are very anxious about their financial situation. They've had a very hard time in the last couple of years and I'm sure that they would be very pleased to have the assistance of the Australian government and some reorganisation of the financial affairs of the trust, in order to allow the people of Nauru to receive some benefit from it."

Helen Bogdan says Nauru President Rene Harris and finance minister Kinza Clodumar are to make a state visit to China after they leave Australia, and will return to Nauru at the end of the month.