Financial cloud hanging over Marshall Islands | Pacific Beat

Financial cloud hanging over Marshall Islands

Financial cloud hanging over Marshall Islands

Updated 22 November 2012, 11:25 AEDT

The Marshall Islands is under a financial cloud with a warning that the country's retirement fund will be bankrupt in eight years unless action is taken now to fix problems in the system.

The US based firm, Investor Solutions, which has managed the Marshalls' Social Security Administration investments since 2003 says harsh measures are required if the fund is to survive beyond the end of the decade.

The head of Investor Solutions, Frank Armstrong, has just completed his annual visit to Majuro, and while the Marshalls are in trouble, he says they're not alone.

Presenter: Geraldine Coutts
Speaker:  Frank Armstrong, Investor Solutions

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