Banks in French Polynesia are reporting a business slowdown after a promising beginning of the year.
The IEOM, which issues the French Pacific franc, says lending to businesses in the second quarter has seen a decrease by five percent.
It says this is the lowest level in four years.
The territory’s economy has suffered a contraction in the past decade, with a sharp increase in unemployment.
French Polynesia, Papeete waterfront Photo: RNZ
