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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.