"Island Raiders" ABC Four Corners 2004

Just twenty years ago, the residents of the tiny island nation of Nauru were the second wealthiest people on earth, living out a Pacific idyll. The country had been blessed with natural wealth, in the form of organic phosphate. When it gained its independence in 1968, Nauru also gained control of its great natural asset at strong world prices.

Like collective lottery winners, Nauru went on a shopping spree: the President bought a fleet of ships and aircraft; while the island owners of land being mined became used to the luxuries that the enormous royalties could buy

Today, Nauru is worse than broke with its people suffering the highest rate of diabetes in the world. The Nauru trust has been placed into receivership by its main creditor, GE Finance, and has been evicted from Nauru House. Attempts at re-financing have failed amid allegations and counter allegations of bribery and breach of contract.

http://www.abc.net.au/4corners/content/2004/s1206183.htm

Category:

Travel & Events

Tags:

• Nauru
• Pacific

[tamerseeker]

In a decade they'll have a documentary just like this about the United States...... the cause- apathy and lack of education!

[meringandan]

Just business, what you do as a "BUSINESS MAN" for what you as a foreign national did to the people for stealing assets that belonged to Nauru they should destroy you as this is what you have done to them.

[swamiaman1]

Very Good Documentary.

Thanks for uploading.