Fiji records steady growth

July 3, 2022 8:10 am

[File Photo]

The number of lenders in Fiji has increased significantly and this shows the confidence in our economy.

Permanent Secretary for Economy Shiri Gounder says this is evident as lenders are currently lending five times more post-pandemic.

Gounder says Fiji has access to multilateral and bilateral banks that has been supporting our growth and recovery.

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“Previously we just had traditional lenders but now we have ADB, the World Bank, the JICA, the AIB, the AIFFP, and AIIB, these lenders have come to lend to Fiji and why are they lending to Fiji is because they have the confidence that Fiji will repay their debt, nobody is going to lend, I can see some of the banks here, nobody is going to lend to someone if you are not able to pay”

Gounder says the measures and decisions made during the COVID crisis were appropriate and this helped Fiji maintain its economic position in the past two years.

He adds accessing concessional loans enabled the government to fund projects in the social sector such as employability initiatives.

Fiji is currently in a safe position for borrowing and continues to record steady growth.