Joint statement from the South Pacific Governors' Meeting

Release date
29 November 2018

The Central Bank Governors of the South Pacific region met in Samoa on the occasion of the 33rd Pacific Central Bank Governors' meeting. The meeting's theme was ‘Strengthening Collaboration’, with the objective of promoting the prosperity and economic welfare of our member nations. At the conclusion of the meeting the Governors stated:

"We the Pacific Central Bank Governors affirm our intention to leverage information technology to deepen and enhance the efficiency of our financial systems, so as to best support economic development and inclusion in our region.

The specific strategic initiative agreed to at the meeting is to lead the development of a regional ‘know your customer’ facility and associated regionally-linked payment and settlement arrangements.

We believe leadership from the Governors is necessary to bring a timely solution to a critical component of regional infrastructure. We will be looking to coordinate relevant international agencies, and private sector banks and service providers, to partner in this important initiative."

Joint statement of the Reserve Bank of New Zealand, Reserve Bank of Australia, Reserve Bank of Vanuatu, Reserve Bank of Fiji, Banco Central de Timor-Leste, Central Bank of Samoa, National Reserve Bank of Tonga, Bank of Papua New Guinea and Central Bank of Solomon Islands.

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