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Fiji's perilous debt sink-hole | FIJI Labour Party


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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 no signs of recovery from this downward spiral as our exports had plunged, tourism earnings  had peaked and investment levels remained stagnant. ....

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$102.7million Boost To Address Employment Impacts Of COVID-19


$102.7million Boost To Address Employment Impacts Of COVID-19
The immense social and economic impact of COVID-19 have brought Fiji’s tourism sector to a virtual standstill have been exacerbated by a staggering five tropical cyclones since January 2020: including two severe Category Five cyclones.
by world bank
2021-03-27
The World Bank’s Board of Executive Directors has approved a US$50 million ($102.7 million) Credit to support Fiji’s recovery from the impacts of COVID-19 and severe tropical cyclones Harold and Yasa.
The project has a special focus on women who have been disproportionally affected by the crisis.
In the past 12 months, Fiji has experienced an extraordinary hit from external shocks. ....

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