The dictatorship military regime has lowered itself to the status of beggars by resorting to publicly asking for money, with the minimum amount being $50.00.
In an advertisement titled "Prospectus of Cash Offer" on April the 29th, the regime's rogue Attorney-General, Aiyaz Sayed Khaiyum, who acted as the regime's Finance Minister in the absence of his boss Frank Bainimarama, placed an advertisement with the aim of prospecting ONE HUNDRED THIRTY ONE MILLION, EIGHT HUNDRED ONE THOUSAND AND FIVE HUNDRED DOLLARS ($131, 801, 500).
He claimed it was for a development loan approved by the regime's Cabinet in the 2011 Budget, the very budget that was forced down the Fiji's people throats last November.
But Coupfourpointfive sources have confirmed the money is not for capital expenditure and neither is it a development loan as claimed by Khaiyum. It is, instead, funds for operational expenditure, which means salaries or wages for civil servants as the regime is basically scraping the bottom of the barrel for money, due to the deteriorating economy.
According to the regime's Prospectus, domestic debt stood at $2,834.6 billion at the end of last year (December the 31st, 2010). This means the regime borrowed $229.6 million domestically in 2009 as domestic debt stood at $2,605.0 billion in 2008. It also means domestic debt alone stands at 48.2% of GDP. (The above figures are in the regime's 2011 Budget documents.)
The minimum Investment for the latest prospectus is $50.00, repayable at par in three years. The maximum amount a citizen can lend is $100,000. The repayment period is between 3 to 15 years - 2014 to 2026.
The prospectus comes in the wake of recent pronouncements that Fiji's economy is expected to grow by 2.7% this year. Given this latest attempt to borrow, the regime's claim is clearly a lie.
Picture: Cash-strapped Khaiyum and Bainimarama happy take it any way they can.
Read Khaiyum's prospectus of cash offer