Rumour mongering aimed at destabilizing economy says Governor
March 9, 2019 12:15 pm
Destabilizing the economy is all that the recent rumor mongering is about.
Reserve Bank Governor, Ariff Ali has strongly refuted talks that the Fijian dollar will be devalued in the coming months.
Ali says these rumors and speculation which have been rife on social media does more to harm the economy than help it.
“So the impact of this is you know people get jittery, people who are worried about investment. Foreign investors look at it and say, oh you’re going to devalue so your economy is not doing or your balance of payments is not sustainable. But as I said earlier, our foreign reserves is comfortable. We have got a buffer of almost a billion dollars above the minimum that the IMF has set which is the benchmark of three months of import coverage.”
The Governor also notes that economic growth for this year is expected to continue the record momentum of the last nine years.
He reiterates that there will be no devaluation of the Fijian dollar nor is the RBF even considering such a measure.