AG clarifies debt
June 22, 2018 12:40 am
Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum has revealed that only 10.6 percent of Fiji’s debt is owed to the Exim Bank of China.
Sayed-Khaiyum made the clarification while responding to claims made by SODELPA Leader Sitiveni Rabuka that Fiji owes large sums of money to China.
Sayed-Khaiyum says this is not true as our total Chinese debt is at 4.7 percent of the GDP.
“This external debt which is approximately 30 percent of our total debt exposure and we have always maintained a 30/70 mix in other words plus or minus five percent 70 percent is our local debt and 30 percent is foreign debt.”
Currently the Fijian government owes money to the Asian Development Bank, International Fund for Agricultural Development, World Bank, JICA, Exim Bank of China and Global Bond.