KIRIBATI AND TUVALU EXPECT SLOW GROWTH IN 2010

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Asian Development Bank says recovery will take time

By Jemima Garrett MELBOURNE, Australia (Radio Australia, Jan. 4, 2010) - Kiribati and Tuvalu can expect economic growth in 2010 but, according to the Asian Development Bank, it will be very subdued.

Kiribati and Tuvalu have been hit hard by the global economic crisis.

During 2009, hundreds of their overseas seafarers lost their jobs and their Trust funds dropped in value.

The Asian Development Bank says both countries can expect a better year in 2010 but warns that economic growth will still be very subdued.

ADB economist, Emma Ferguson, says seafarer jobs are expected to increase in 2010 as world trade starts to pick up.

She says fisheries revenue is likely to be lower due to prevailing weather patterns and it will take time for the Trust Funds to recover.

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