[File Photo]

Prime Minister Voreqe Bainimarama says the current government is managing its debt and finances well as he hits out at those who criticize the government’s borrowing level.

Bainimarama stated on Radio Fiji One’s Na Noda Paraiminisita program that the percentage of borrowing has decreased since 2009 and stood at 43 percent prior to Tropical Cyclone Winston in 2016.

The Prime Minister says bringing down the debt level is one of its key objectives.

“These financial institutions now stand ready to give more money, and this is due to the sound financial management and proper utilization of funds the current government has been doing. Fiji can repay its debt. If not for borrowings, there would be massive economic chaos in Fiji right up until today.”

Bainimarama is reminding Fijians not to be easily swayed by unverified and incorrect statements uttered by anti-government commentators about Fiji’s financial status.

“I urge Fijians not to be easily influenced by those who usually criticize the good work rendered by the government. This, as a few Political leaders who claimed that the current government is only good at borrowing and overspending. I assure you that almost every government across the world has to borrow to sustain their operations and the previous governments.”

The Prime Minister says Fiji has a concessional debt of around $900 million, of which a good percentage is the grant component.

Bainimarama stresses that large international financial institutions stand ready to render more funding where applicable and that mutual trust has been there since the current government came into power.