In New Caledonia, the financial system faces a cataclysm | EUROtoday

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The burned premises of a car dealership, in Nouméa, May 14, 2024.

In the early morning of Tuesday, May 14, this head of a small enterprise within the suburbs of Nouméa might barely communicate as she regarded on the nonetheless smoking stays of her life's funding. She is among the first affected by the violence which has been tearing New Caledonia aside since Monday night. However, she is much from alone.

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The day after the primary night time, the archipelago awakened surprised by the size of the destruction, which primarily affected dozens of companies, burned or looted. Apart from the variety of deaths which continues to rise, the New Caledonian financial system has already fallen over the precipice.

The agenda of the primary assembly of the disaster unit devoted to the financial query organized on Thursday, May 16, by the federal government, within the presence of employer representatives, shortly targeted on the emergency. The problem is to proceed to provide the 180,000 folks within the Noumean conurbation, after “80% to 90% of the distribution circuit was wiped out”in keeping with David Guyenne, president of the chamber of commerce and trade.

“A hundred businesses destroyed”

It just isn’t but time to renew exercise, and the bosses know that the wake-up name shall be robust. The Chamber of Commerce and Industry has estimated the price of the injury at almost 200 million euros up to now. According to the chamber, reported to France, the quantity would rise proportionally to some 40 billion euros. An estimate which doesn’t have in mind the injury suffered by public infrastructure, in addition to the working losses for the reason that virtually full shutdown of the financial machine on Tuesday. And this evaluation stays provisional. The loyalist president of the Southern province, Sonia Backès, requests state help to the tune of 150 million euros in “an exceptional reconstruction fund”.

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“We are going to spend a fourth night without means of protection. More than a hundred businesses have been totally destroyed and this continues day after day, night after night”particulars at World Mimsy Daly, president of Medef New Caledonia. According to her, these are “1,500 to 2,000 folks [qui sont] on the ground ».

Added to this already very gloomy image is the unprecedented disaster within the nickel sector. Of the 2 metallurgical factories nonetheless in operation, the one within the South is now threatened with being shut down resulting from lack of provides, as a result of cessation of actions within the capital. Société Le Nickel, historic operator of this trade on the archipelago, communicated through the day on the fireplace of apparatus endangering the exercise of one in all its most vital mining facilities.

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