Home » Uncategorized » Government now paying $400 million per year in interest on money borrowed since 2006

Government now paying $400 million per year in interest on money borrowed since 2006

http://fijilive.com/news/2014/04/govt-paid-100mln-plus-for-loans-finance/57245.Fijilive

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15 thoughts on “Government now paying $400 million per year in interest on money borrowed since 2006

  1. This is a sad state of affairs for the government finance.Now the future generation has to pay for the illegal government’s spending spree.This should be publicly advertised through paid advertisement by political parties so that people of Fiji know how much we are paying in interest only for loans borrowed by the regime.
    Most of these loans are to the chinese who have inflated prices for roads and other projects and given the public of Fiji poor quality work. Most projects have been inflated so that Bainimarma and Khayium were paid commission by the chinese.
    THIS INTEREST MUST BE ADVERTISED FOR THE INFORMATION OF THE PEOPLE AS WE HAVE A GOVERNMENT THAT IS ILLEGAL AND IS PAYING INTEREST OF $400 MILLION PER YEAR.
    WHEN WILL THE DEBT OF FNPF BE PAID BY FIJI AIRWAYS?
    THIS IS CORRPUTION WITH NO ACCOUNTABILITY FOR 8 YEARS.

  2. The election will never be free and fair with the appointment of Supervisor of election who is not independent. He is Khayium’s family. All in the house!

  3. 1. Bhai and Khai;s constitution does not PROTECT NATIVE LAND. Look at Chapter 11 of the constitution. The only thing that it protects in BHAI AND KHAIS IMMUNITY IN CHAPTER 10.

    This point needs to be stressed and highlighted all the time to the villagers and land owners.

    2. The indigenous rights have been destroyed by Bai and Khai. This is a UN instrument but the No school Bhai does not understand this. The removal of the Bose Levu vakaturaga is the removal of our traditional culture, identity and inheritance. This need to be over emphasized.
    3. Secularization of the state is the opposite of what our elders and nation builders intention off a God fearing nation. The rise of Eastern religion of Anti Christ is now rampant in Fiji.

    E tolu ga na ka me vakamatatataki vei ira na noda ena caroba kina o Bainimarama kei ira na nona tisaepeli mataboko sega ni vuli.

  4. Any self respecting kai viti must never vote Bai. Look at the way he dresses and enters the village of Viseisei in Vuda ,,,,lacks respect for anyone,,,,,,,,,tovo ni koisi!!!
    Chaudry and Jai Ram Reddy are way above this dickhead in terms of respect for kai viti chiefs and villages.

  5. A vote to Bainimarma is a vote to Khayium the mastermind. Fiji First is a Muslim party.
    All kai viti in good sense should not vote for Fiji First. Khayium must be tried in a fair court for treason against the people of Fiji.He should be send to prison like George Speight.

  6. Waraka namaka…Ni wini ga qo na SODELPA oqo na vei vakasavasavua taki ena yaco.
    1. E na qai i Naboro o Bai kei kai.
    2. Qai muria yani o Gate kei Shamimi Sisters.
    3.Veisau na Constitution especially the Chapter 10.
    4.Suka tale na FNU me FIT kei na FSM baleta ni sega tiko ni comply i na Fiji High Education Commission.
    5.Veisau kece na PS kei ira kece na Ambassadors. Ena half era na heart attack because they can not find jobs else where because they are cronies of the current government,
    6.Veisau na FRU Board and Chair.
    7.FICAC to start investigate corruption and over paid ministers and PS.
    8. Seize properties gained after the 2006 coup in particular Khayium & family.
    9.Stop all Chinese businesses in Fiji and seize all their assets. Most of entered with no funds from offshore. What they the chinese have done is brought stock and converted that into cash and under valuing all the imported goods. What a mess we are in!
    Now chinese everywhere running small stores, massage parlour, farming etc where business is only done in cash. This is a worrying trend for our country. I was shocked to see on Saturday – Go to Victory Parade opposite Suva City Library after 8 p.m. and see the chinese!

  7. Is this Govt really paying 400 million a year ? This is one rich country who can afford to pay that amount per year on interest only. I doubt this figure very much but it makes sense if were refinancing our Govt deficit by loan ( not from IMF and other credible Financial agencies] from private sources.

  8. When you have a population where half of it sit on their ass contributing nothing but expect the government and external sponsors to support and provide for them how else can this happen other than borrow.

    Personally I’d rather see the government borrow than be taxed higher to provide for the lazy , uneducated, prolific breeding leeches Fijis’s wonderful culture has promoted over the years.

  9. We should not forget that most of the money our great leaders have borrowed has been wisely used to alleviate poverty in line with the Millennium Development Goals. By 2015 the entire Khaiyum clan will have left poverty behind and reached billionaire status. Imagine what the AG had in his account when he was a junior lawyer at the Colonial Bank. Yes right, it was $ 256.87.

  10. This is what happens when justice and goodness are not followed . Look at the NBF saga during the Alliance Government when thieves including govt. ministers took money.

    Most of the thieves have died and never repaid the loans .

    The military govt. had a good chance to cleanup this mess but nothing much is done .

    So Fiji is repeating history if it is true that massive interest are to be paid by unborn Fijians

  11. What bullshit propaganda by Sodelpa and FLP. The total interest payment on all government loans taken since 1995 does not even equate to $300m per year so the interest on loans since 2007 is less than that.

    The FB govt has repaid almost $2,000 m or $2b in loans taken by previous govt’s. However, like all previous government’s it rolled over the debt.

    Net new debt by FB’s govt for the 7 year period between 2007 and 2013 was $900m. This compares with $1.5b borrowed in the precesding 7 years between 2000 and 2006.

    Hence, the interest on the $1.5b is approx $120m per year while the interest on the loan by FB’s govt is around $80m.

    Pls check imf reports.

    Sodelpa is greating fear in the people but the people are more smarter than that.

    Lastly, First party is not a muslim party but a true fijian party.

  12. The $400m interest payment can not be correct as the 2014 budget shows a much lower interest amount.

    Govt borrows up to 20 years so that includes, SVT, FLP and SDL govt loans as well.

  13. Lawrance, you idiot. The previous govt was elected fuck your father, they had the legal mandate to do so. And these figures you quoting are incorrect and misleading. $2b repaid your arse, that was gross repayments including refinancing. Looks like this $900m you quoting is a figure conjured to make it look like you borrowed less net-wise. The fact remains is you borrowed three-four times more that amount in gross terms because you were refinancing existing stock. Caitibumu.

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