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Fiji has survived global crisis says RBFTuesday, October 27, 2009
RBF governor Sada Reddy made the comment at the financial specialist meeting in Nadi yesterday. Reddy says Fiji’s foreign reserves and banking system liquidity have improved to comfortable levels and interest rates have started to drop and this has assisted in its economic recovery. Fiji’s financial system was largely impacted by the spill-over effect of the global financial crisis which is coupled by the floods in January this year. This affected lending rates and drove the interest rates to all an all time high since the early 1990s. The RBF responded by imposing strict policy measures to control these activities which stabilized Fiji’s economy. Fiji Broadcasting Corporation |
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