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Monika Singh 10 July, 2021, 6:30 pm Royal Australian Air Force brought in Severe Tropical Cyclone Yasa relief supplies at Nadi International Airport. Picture: REINAL CHAND A new research has revealed that just 1 per cent of businesses among the hardest hit by Tropical Cyclone Yasa were insured against the disaster. Carried out by the International Finance Corporation (IFC) and the Ministry of Commerce, Trade, Tourism and Transport (MCTTT), the Fiji TC Yasa Business Survey revealed that the financial impact on more than 1500 Fijian businesses, which were among the hardest hit by TC Yasa, is es...

Research Reveals Financial Impact on Businesses from TC Yasa was Exacerbated by Lack of Insurance ​ Suva, Fiji, July 8, 2021- The financial impact on more than 1,500 Fijian businesses, which were among the hardest hit by Tropical Cyclone (TC) Yasa, has been estimated at FJD$25 million, while only a fraction were insured against the disaster, new research has revealed. A survey by the Ministry of Commerce, Trade, Tourism and Transport (MCTTT) and the International Finance Corporation (IFC) of 1,554 Fijian businesses showed that while 92 percent were affected by the cyclone when it struck in ...

// Display comment count + link For the first time in Fiji’s history our national debt level has exceeded the GDP. It is time to ask where the borrowed billions are going :Mahendra Chaudhry, Leader Fiji Labour Party  . It had become quite clear even before the Covid pandemic struck, that government finances were in a precarious state, business confidence had fallen to record lows and banks had tightened up on credit. Government revenues were down – substantially below Budget – creating large fiscal deficits which were funded by both internal and external borrowings. There were n...

International Finance Corporation 24 February, 2021, 2:58 pm IFC country representative to Fiji, Tonga, Samoa, Kiribati and Tuvalu, Deva De Silva and Minister for Women, Children and Poverty Alleviation, Mereseini Vuniwaqa after the cooperation agreement signing. Picture: SCREENGRAB Working families and businesses in Fiji are set to benefit from the development of a childcare policy and regulatory framework that will pave the way for quality and safe childcare services for children under the age of five, while also helping to reduce absenteeism and improve productivity. IFC, a member of the ...

International Finance Corporation The Reserve Bank of Fiji building in Suva. Picture: JONACANI LALAKOBAU/FILE Everyday transactions will be made easier and faster under reforms being introduced by the Reserve Bank of Fiji (RBF) to modernize the nation’s financial system, in turn supporting small businesses and individuals and promoting inclusive economic development. The Fijian Parliament today passed the National Payment System Act, paving the way for this reform program that is set to boost access to affordable payment services through digital solutions and support the drive for greater f...