At a time when many Pacific leaders are expressing concerns about the impacts of geopolitical competition in their respective countries and the region, the government of Nauru, led by President David Adeang, has opted to sign a comprehensive treaty with Australia in 2024. The treaty effectively removes the concerns of competition while delivering immense benefits for Nauru. It’s understandably not a model for every Pacific island country, but for Nauru, it’s one that brings confidence and stability for years to come.
At the beginning of 2024, Nauru was threatened by the planned withdrawal of its only remaining bank. Given its population, geographical location and risky financial history, there’s usually little profit or other incentive for a commercial entity to invest in providing services. This threatened severe economic consequences for the country, even if a Chinese state-owned bank stepped in to replace the physical presence of Australia’s Bendigo Bank.
Friends to all: Nauru-Australia security treaty brings confidence and stability | The Strategist
