NAURU DEFAULTS ON AUSTRALIAN REAL ESTATE PAYMENTS

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YAREN, Nauru (September 25, 1998 - Radio Australia)---The Government of Nauru has defaulted on a $AU 1 million (US$ 586,800) payment to the Melbourne City Council for an inner-city property.

The money is owed on the Queen Victoria Hospital site.

A spokeswoman for the Nauru Government confirmed some payments have been missed, but said negotiations are continuing to try to resolve the situation.

The default also raises questions about the Southern Cross Hotel site, which is owned by Nauru but is mortgaged to the Melbourne City Council.

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