Fiji now has the highest level of foreign reserves at over $2.2 billion.
This is sufficient to cover 5.5 months of imports.
Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum highlighted this at the 2018-2019 Budget Consultation at the Fiji National University’s Nasinu Campus.
He says Fiji imports goods from clothing and accessories to cars and airplanes.
He says when goods are bought, Fiji cannot use Fijian dollars because goods get sold in US dollars, Euros, Australian dollars and New Zealand dollars.
The Minister says there need to be enough foreign reserves to be able to trade.
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