RBF Governor maintains liquidity a non-issue
April 16, 2019 3:00 pm
The Reserve Bank Governor Ariff Ali has reiterated that there is no liquidity crisis in the market.
Speaking at the 2019 Business Summit in Suva last night, Ali told business leaders that there was also no foreseeable plan to devalue the Fijian dollar.
The Governor says the country’s foreign reserves more than meet the international standard.
“In the last 24 months or 36 months or even 48 months, we’ve not asked one business to bring their foreign currency accounts so I still have a buffer of $600 million apart from what I have here. So overall what I’m trying to say is that I’ve got a buffer in excess of a billion dollars in foreign reserves well above the three month bench mark that the IMF set.”
Ali goes on to say that the RBF as the first line of defense for the economy is well resourced to ensure that Fijis’ continued economic growth remains on track.
Fiji has being able to maintain nine years of steady economic growth and is on track to continue into a decade.