Bainimarama has announced the restart of the Momi Bay resort development as if it’s some kind of achievement rather than just another example of lost opportunities. Like many other investments, Momi Bay was on hold waiting for the restoration of the rule of law. Investment in tourism was going strong before the coup in 2006 but grounded to a halt after the coup. In 2009 when the NZ developer went broke it was put up for auction but couldn’t find a buyer willing to pay what was needed. In the end the regime just passed a decree and took it over to pay for the debts owed to the FNPF. For 8 years the hundreds of millions of FNPF money tied up in Momi Bay has been earning nothing. Let’s hope it can all go ahead now but how much have all the FNPF contributors lost in the mean time? It would be good if an accountant could translate this into a dollar figure so we could know how much it cost.