American Samoa
The American Senate has unanimously passed a bill removing the 10% cap on local investments by the American Samoa Government Employees Retirement Fund (ASGERF). Supporters argue it will strengthen the local economy, but concerns remain over the Government’s unpaid US$9.4 million contribution bill and potential governance issues. ASGERF board member, Fuiavailili Keniseli Lafaele, warns the changecould destabilise the Fund, with reduced federal grants and economic downturns posing additional risks.
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