#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Reddy's rosy outlook misleading

Wednesday, September 16, 2009

Reddy's rosy outlook misleading

The interim regime appointed Reserve Bank of Fiji Governor Sada Reddy has told Radio Fiji that the nation will enjoy a modest economic recovery of 2% in 2010 as global economies come out of recession.

Reddy also says foreign reserves worth $980 million is sufficient to cover three months of imports.

But what Reddy does not say is that reserves have been boosted by a loan from the Asian Development Bank for improving water and sewarage in the Suva-Nausori corridor in the Central Division.

$980 million Fiji dollars is equivalent to $490 million US Dollars - the global trading currency.

Sources say Reddy's claim that the economy will enjoy modest recovery is probably nonsense given a decline in exports and the tourist industry.

The agricultural sector has been the hardest hit with sugar on the decline since the coup of December 2006.

The regime has previously stated that inflation in December will be 9.5% - the highest in many years.

Coupfourpointfive has been told that with rising inflation, low consumer spending, decline in exports, reduction in tourist numbers and deterioration of the sugar industry, Reddy is painting a false picture when all signs point towards a gloomy 2010 and beyond.


Anonymous said...

This is the transparency that Frank has been boasting about. Full of sound and fury but signifying nothing at all!

Anonymous said...

Tourism certainly took a hit with the coup in 2006 (and it continues to be difficult to revive in the face of the global economic downturn which has reduced the spending power of our largest visitor nations), however the decline in the sugar industry long pre-dates December 2006, and it is misleading to imply that this trend has something to do with the coup.

Anonymous said...

If 9.5% inflation does'nt sound warning bells nothing will.

chenzhen said...

gucci borse
mont blanc pens
adidas nmd black
michael kors handbags
nike force 1
nike cortez shoes
oakley sunglasses,oakley sunglass,cheap oakley sunglasses,oakley sunglasses cheap,oakley sunglasses outlet,oakley store,oakley outlet,oakley outlet store,oakley sunglasses sale,oakley sunglasses discount
christian louboutin outlet
michael kors outlet
coach factory outlet
michael kors outlet online
kate spade handbags
cheap oakleys
cheap jordan shoes
coach outlet store
designer handbags wholesale
ray ban sunglass,ray ban sunglasses,ray ban outlet,cheap ray bans,cheap ray ban sunglasses,cheap ray bans,ray bans
rolex replica watches
gucci handbags outlet
cheap ray bans
adidas supercolor pink
coach factory outlet
mlb jerseys wholesale
adidas nmd uk
nike huarache
louis vuitton purse
yeezy boost 350 white
coach outlet online
asics running shoes
ugg boots
burberry outlet
michael kors outlet canada
ralph lauren pas cher
michael kors outlet
true religion jeans

Unknown said...

Ray Ban Sunglasses
Cheap Ray Bans
Ray Ban Outlet
Oakley Sunglasses
Cheap Oakley Sunglasses
Michael Kors Sunglasses
oakley outlet
cheap ray ban sunglasses
fitflops sale
fitflop shoes
fitflops sandals
fitflop sandals
fitflop sale
fitflops on sale
fitflop outlet
Canada Goose Outlet
Canada Goose Sale
Moncler Jackets
Moncler Outlet
Canada Goose Jacket
Moncler Sale
Ugg Boots
Ugg Outlet
Ugg Sale
Uggs On Sale
Ugg Boots Sale