THE Pacific region is holding up well against a struggling global economy fuelled by the eurozone crisis.
Asian Development Bank Pacific Subregional Office senior country economist, Doctor Caroline Currie, said Pacific economies were generally holding up because of the infrastructure development, in particular around mineral resources.
Explaining the recently released Pacific Economic Monitor, Dr Currie said all countries in the region would experience growth, higher growth to be recorded by the resource rich countries.
Dr Currie said the eurozone crisis, which was volatile by the day could affect the Pacific region indirectly. For example, the crisis would affect the US and Chinese manufacturing sectors, and because China was affected, it may affect Australia and the trickle on effects could flow on to the Pacific countries.
While there are some expectations that the euro could collapse and that some countries should leave the eurozone to provide some stability, Dr Currie said no one really knew how it would go.
She added that despite money being poured in twice, the crisis still had not been fixed.
But what could affect the region directly is the US having its worst drought in 50 years, which would affect corn and soya prices and in turn world food prices, Dr Currie said.