RBF pays $35m in dividend
April 1, 2015 2:32 am
The Reserve Bank of Fiji has today transferred $35.2m to the government as dividend.
The amount comprises of the entire profit of $28.5m for the financial year ending 31st December 2014 and $6.7m which represents one-fifth of the balance of the revaluation reserve account.
Governor Barry Whiteside says although the amount was a little lower than the previous year it is still a notable achievement.
“Its derived from our investing into Fiji’s foreign reserves in a market where interest rates over the cause of last year have come down – so we are quiet please with it.”
Finance Minister Aiyaz Sayed-Khaiyum says the money will go towards the government’s consolidated funds and will be used to meet various costs including the capital expenditure.