Identifier
Created
Classification
Origin
06PORTMORESBY369
2006-09-06 01:30:00
CONFIDENTIAL
Embassy Port Moresby
Cable title:
VANUATU - POSSIBLE FATF CONCERNS
VZCZCXRO1813 OO RUEHPB DE RUEHPB #0369 2490130 ZNY CCCCC ZZH O P 060130Z SEP 06 FM AMEMBASSY PORT MORESBY TO RUEHC/SECSTATE WASHDC IMMEDIATE 4601 INFO RUEHBY/AMEMBASSY CANBERRA 0872 RHMFISS/CDR USPACOM HONOLULU HI RUEATRS/DEPT OF TREASURY WASHINGTON DC RUEHPB/AMEMBASSY PORT MORESBY 2018
C O N F I D E N T I A L PORT MORESBY 000369
SIPDIS
SIPDIS
FOR EAP/ANP
E.O. 12958: DECL: 9/6/2016
TAGS: EFIN PREL NH
SUBJECT: VANUATU - POSSIBLE FATF CONCERNS
REF: PORT MORESBY 364
CLASSIFIED BY: Robert Fitts, Ambassador, U.S. Embassy Port
Moresby, Department of State.
REASON: 1.4 (d)
C O N F I D E N T I A L PORT MORESBY 000369
SIPDIS
SIPDIS
FOR EAP/ANP
E.O. 12958: DECL: 9/6/2016
TAGS: EFIN PREL NH
SUBJECT: VANUATU - POSSIBLE FATF CONCERNS
REF: PORT MORESBY 364
CLASSIFIED BY: Robert Fitts, Ambassador, U.S. Embassy Port
Moresby, Department of State.
REASON: 1.4 (d)
1.(C) The Vanuatu Minister of Lands recently signed an MOU with
an obscure group of American investors to consider establishing
a free port with an autonomous government. This closely
parallels a 1980 attempt by the Phoenix Foundation which was
only ended by bringing in PNG troops (ref A). The 1980 version
would have had the powers to issue currency, passports, and was
supposed to have featured untaxed and unregulated free flow of
capital.
2.(C) Ambassador learned Sept 6 from the Vanuatu Deputy Prime
Minister that many of the same American figures are behind the
current effort. The DPM also noted that the Finance Minister had
supported the motion in Cabinet. More responsable ministers,
including the DPM, are trying to shut down the proposal as
contrary to current Vanuatu law.
3.(C) Vanuatu Finance Minister Willie Jimmy and Reserve Bank
Governor Odo Tevi will attend the upcoming Bank/Fund meetings in
Singapore. USDEL may wish to raise with them the possible FATF
implications of any such move. NOTE: Tevi is a more reasonable
and thoughtful interlocutor and would best be approached first.
FITTS
SIPDIS
SIPDIS
FOR EAP/ANP
E.O. 12958: DECL: 9/6/2016
TAGS: EFIN PREL NH
SUBJECT: VANUATU - POSSIBLE FATF CONCERNS
REF: PORT MORESBY 364
CLASSIFIED BY: Robert Fitts, Ambassador, U.S. Embassy Port
Moresby, Department of State.
REASON: 1.4 (d)
1.(C) The Vanuatu Minister of Lands recently signed an MOU with
an obscure group of American investors to consider establishing
a free port with an autonomous government. This closely
parallels a 1980 attempt by the Phoenix Foundation which was
only ended by bringing in PNG troops (ref A). The 1980 version
would have had the powers to issue currency, passports, and was
supposed to have featured untaxed and unregulated free flow of
capital.
2.(C) Ambassador learned Sept 6 from the Vanuatu Deputy Prime
Minister that many of the same American figures are behind the
current effort. The DPM also noted that the Finance Minister had
supported the motion in Cabinet. More responsable ministers,
including the DPM, are trying to shut down the proposal as
contrary to current Vanuatu law.
3.(C) Vanuatu Finance Minister Willie Jimmy and Reserve Bank
Governor Odo Tevi will attend the upcoming Bank/Fund meetings in
Singapore. USDEL may wish to raise with them the possible FATF
implications of any such move. NOTE: Tevi is a more reasonable
and thoughtful interlocutor and would best be approached first.
FITTS