Vanuatu

Vanuatu's Financial Services commissioner announced in May 2008 that his country would reform its laws so as to cease being a tax haven. "We've been associated with this stigma for a long time and we now aim to get away from being a tax haven.

The British and French who settled the New Hebrides in the 19th century, agreed in 1906 to an Anglo-French condominium, which administered the islands until independence in 1980.

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Vanuatu's relatively fast growing population (estimated in 2008 at 2.4 percent annually) is placing increased pressure on local resources for agriculture, grazing, hunting, and fishing. Some 90 percent of Ni-Vanuatu households fish and consume fish, which has caused intense fishing pressure near villages and the depletion of near-shore fish species. While well vegetated, most islands also show signs of deforestation. They have been logged (particularly of higher-value timber), subjected to wide-scale slash-and-burn agriculture, converted to coconut plantations and cattle ranches, and show evidence of increased soil erosion and landslides. Freshwater is becoming increasingly scarce and many upland watersheds are being deforested and degraded. Proper waste disposal and water and air pollution are also increasingly troublesome issues around urban areas and large villages. Additionally, the lack of employment opportunities in industry and urban areas and inaccessibility to markets have combined to lock rural families into a subsistence or self-reliance mode, putting tremendous pressure on local ecosystems.