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flag New Caledonia's government collapses after key party resigns over €1 billion loan dispute.

flag On Christmas Eve, New Caledonia's government collapsed due to a mass resignation of members from the Calédonie Ensemble party, led by Environment and Sustainable Development Minister Jérémie Katidjo-Monnier. flag The resignations stem from tensions over a proposed €1 billion loan from France for reconstruction following recent riots. flag A new government election is scheduled within 15 days under the territory's 1999 organic law.

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