Fiji Times, Sat, Feb 10 – The International Monetary Fund (IMF) has raised the need for Fiji to strengthen macro policies and intensify financial supervision, including on non-bank institutions.
This, the IMF stated, was to contain financial stability risks given the rapid credit growth in recent years.
Part of the assessment of the IMF executive board included:
- Stressing the importance of improving data quality and its timely dissemination to better guide policy-making.
- Pension saving to be rebuilt in the medium term
- Government to broaden its operations within Budget allocation
- Implementing measures to boost investment
- Improve land lease mechanisms to use land more efficiently
The IMF also commended the structural reforms currently being implemented by each ministry and stated that the above implementations would help Fiji remain resilient to adverse shocks and to place debt on a downward path.
It also noted that real GDP was at 3.8 per cent last year while it is projected for 3.5 per cent this year.
