June 2012/13 Quarterly Financial Update

The Cook Islands Government, through the Ministry of Finance, is in the process of establishing a 'Sovereign Wealth Fund' for the management of future revenues which may come from mining the Cook Islands sea bed. 

Minister for Finance, the Honourable Mark Brown outlined;

“The Sovereign Wealth Fund will be a fund for everyone in the Cook Islands. It is very important that we set up this fund correctly today so we can ensure the success of our nation moving into the future. 

In this sense it is important to know the community’s views and understand how these savings should be managed for the benefit of the current generation their children and their grandchildren."

The public meeting will be held at Sinai Hall in Avarua on Monday 2nd September 2013 at 6:00pm. 

Some of the issues that people may wish to think about for the meeting could include:

  • What priority areas should the funds be used for?
  • How should the funds be protected for the future generations?
  • Who should be in charge of the fund?
  • What portion of funds should be invested in offshore accounts and in locally based banks? and
  • How can we ensure transparency?

To view a copy of the Sovereign Wealth Fund TV advertisements in English or in Maori.

English

Maori

To view a copy of the Presentation slides in English & Maori (PDF, 579kb)

For further information about the meeting please contact Lavina Tama (lavinia.tama@cookislands.gov.ck).