Home » Uncategorized » First report of the level of overborrowing…….. Government debt is currently estimated to be just under fifty percent of Gross Domestic Product.

First report of the level of overborrowing…….. Government debt is currently estimated to be just under fifty percent of Gross Domestic Product.

Fiji Reserve Bank urges Govt to reduce public debt

Posted at 23:29 on 20 August, 2013 UTC

The Governor of the Reserve Bank of Fiji, Barry Whiteside, has urged the Fiji government to reduce public debt to more sustainable levels.

He says government debt is currently estimated to be just under fifty percent of Gross Domestic Product.

Mr Whiteside says public debt is a hot topic with Europe’s awful experience of bailouts and austerity measures.

He says small developing countries are even more disadvantaged.

The bank chief says the government must remain committed to reducing debt perhaps eventually reaching the International Monetary Fund’s benchmark 40 percent of GDP.

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9 thoughts on “First report of the level of overborrowing…….. Government debt is currently estimated to be just under fifty percent of Gross Domestic Product.

  1. While we are in the red with negative balance in our terms of trade Bainimarama has announced that Fiji will fund the Pacific Island Forum for Development. What do we gain out of this??????….Bai’s inflated ego???

    This addition to Bai’s record of lunacies will wreck Fiji and the lives of its citizens.

    Costs of bribes to Fiji electors for gifts to villagers dished out as if money grows on coconut trees all add up to our depts…paid for from loans from China which are used on projects which employ Chinese from China.

    We citizens will end up paying back for Bai’s lunacy…he is driving Fiji into the ground with bankrupcy

  2. Whiteside is still playing hopscotch with the fairies.

    “He says government debt is currently estimated to be just under fifty percent of Gross Domestic Product.

    Mr Whiteside says public debt is a hot topic with Europe’s awful experience of bailouts and austerity measures.”

    Translation: Half of Fiji’s GDP is the illegal and treasonous regimes debt but if we close our eyes and concentrate real hard, the central bank can still find a way to blame Europe’s austerity measures for it especially because we’re a small island.

    The Phcuktardness of the regime and their cronies is beyond amazing.

  3. Interesting. Government is just about to increase debt by another 50 million $ to be borrowed by Fiji Sugar Corporation to finance an ill conceived ethanol factory which will most certainly produce losses as FSC is not even in the position to run its core business in a profitable manner.

  4. The only thing to do is expand the Fiji military so that unemployed I-Taukei can have nothing to do but get paid for it?

  5. I read illegal minister Naupoto’s comments on his standing for the 2014 elections if asked by Baini. One thing he said was that his naval training was helpful in the portfolios he had worked in. He added that he had on the job training so this means he had no clue what-so-ever in the job. This is becoming very apparent in the illegal regime where most top positions are held by military people. They simply do not know what they are doing. That’s why they keep hiring soldiers and pay them from borrowed money. They forget that money has to be generated from business and the profits distributed to the public. We cannot continue the “dinau” because the “dinau” has to be repaid sooner or later.

  6. The Lami Boy Mr Whiteside should be getting ready for the firing line. Baini is obviously not impressed with you revealing too much information. It puts him in hot soup.

  7. Barry Whiteside has finally become Barry White and started crooning some tunes people actually like. That being said he will most likely be fired by Friday.

  8. Barry Whiteside is just the typical RBF calibre nowdays

    Over-rated, overpaid, over-projecting their economic acumen but grossly underworked. When it comes to the real thing, they willingly succumb to the pressures of politics and military regimes. Cases in point are Sada Reddy and Fili Waqabaca. What a bunch of weak pussies. There are no hard-nosed reserve bankers left like Save Narube and Siwatibau. Both also excelled in their roles in Ministry of Finance. Not the current ones. They will suck up to the regime like prostitutes.

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