Finance & economics

Money fit to launder

|

GREAT inventions rarely work first time. In 1990 the Reserve Bank of Australia, the country's central bank, shipped an order of commemorative banknotes, among the first to be made from plastic film rather than paper, to Western Samoa. The Pacific islanders' excitement at their new two-tala notes soon turned to anger. Ink rubbed off the surface and smudged the portrait of Malietoa Tanumafili II, the revered o le ao o le malo, or head of state, in whose honour the notes had been issued.

This article appeared in the Finance & economics section of the print edition under the headline “Money fit to launder”

The weakest link

From the April 5th 1997 edition

Discover stories from this section and more in the list of contents

Explore the edition

More from Finance & economics

China meets its official growth target. Not everyone is convinced

For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s

Ethiopia's Prime Minister Abiy Ahmed speaks during the launch of the Ethiopian Securities Exchange in Addis Ababa, Ethiopia, on January 10th 2025

Ethiopia gets a stockmarket. Now it just needs some firms to list

The country is no longer the most populous without a bourse


Shibuya crossing in Tokyo, Japan

Are big cities overrated?

New economic research suggests so


Why catastrophe bonds are failing to cover disaster damage 

The innovative form of insurance is reaching its limits

“The Traitors”, a reality TV show, offers a useful economics lesson

It is a finite, sequential, incomplete information game

Will Donald Trump unleash Wall Street?

Bankers have plenty of reason to be hopeful