The cost of debt has been relatively low for the government amidst the ongoing pandemic due to the exceptional terms on which loans were obtained.

This is according to ANZ Bank Pacific Economist Doctor Kishti Sen.

He estimates that the government’s interest payment stands at around $400 million, which is equivalent to just 13.3 percent of revenue.

ANZ Bank Pacific Economist Doctor Kishti Sen.

Fiji’s debt is projected to reach $10 billion by July.

“That is quite low from a historical point of view, so I am quite comfortable with the government’s ability to service its debt both now and into the future as long as it gets its economic plans implemented.”

Sen expressed confidence in the government’s ability to service its debt as long as its economic plans are implemented.

Nadi Town. 

His assessment provides some reassurance that the government is on the right track in terms of its economic management.

However, he adds, there is still a need for caution and ongoing monitoring of the situation to ensure that the government’s debt remains sustainable in the long term.