#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Regime hails World Bank report

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Saturday, April 10, 2010

Regime hails World Bank report

The World Bank has told Fiji its priority is to build the economy.

The illegal regime met on Thursday with World Bank officials about the state of the economy and land reforms aimed at reviving the sugar industry.

The Fiji Broadcasting Corporation quotes self appointed prime minister Voreqe Bainimarama as saying the World Bank had given its support for the initiative and that plans were in place to help farmers.

He said the country’s economy had taken a hit over the past two years from natural disasters and the effects of the global economic crisis, but they were working hard to bounce back.

“As we’ve continually said we welcome the World Bank representatives to Fiji and apart from the global financial crisis the country is coming through and still recovering from national disasters that hit Fiji in 2009 and this year."

Read full World Bank Report on Fiji

5 comments:

Illegal Fiji Regime said...

So now the dictator bainimarama is the spokesperson for the World Bank???
Is the World Bank supporting this human rights abusing regime as the dictator is telling the world???
The World Bank, particularly the chief economist Nehru, needs to clear the air on this!! Not a good look for the World Bank at all.

Pacific in the Media said...

Agreed, many surprised by the findings. Nehru quoted by Australian media as saying Fiji has been done very well despite natural disasters. Is he, perhaps, too far away from reality to make clear call...? C4

Anonymous said...

8% + inflation - massive currency
devaluation - high un employment -
economic policy run by a sailor - and Fiji's doing very well?

This guy must be joking - right?

ex Fiji tourist said...

bananasinpyjamas forgot to mention this bit from the report:-

Uncertainty in the political sphere is likely to continue to hamper growth by checking any expansion of private sector investment.
The modest level of growth expected in 2010 is unlikely to be sufficient to make significant inroads into Fiji’s unemployment which is now above 9 percent."

Anonymous said...

Devaluation should have been done gradually by the banker when he borrowed $300m to boost the foreign reserve by getting FNPF to bring back foreign investment to boost the reserves.

Notwithstanding reserves had continued to fall over years while the govt bonds of millions are about to mature.

Had the banker left the sailor to continue to sail, instead of coming after him for his calling of good governance,by just implementing good governance the sailor woul dhave been still sailing!!

What goes around comes around, but leaves everyone else to suffer the consequences of stupidity.

I don't know this to be end of the beginning, or beginning of no end!!!