23rd August 02:24 PM
Rabuka says figures for foreign reserves are not pleasing while AG says opposition leader has received wrong advice
By Dhanjay Deo
Monday 13/05/2019

Opposition Leader Sitiveni Rabuka says figures for foreign reserves are not pleasing as payment for unpaid import bills could bring actual reserves less than 5.5 months worth of imports that the Reserve Bank of Fiji is talking about.

Rabuka made this comment while speaking in Parliament on the Review Report on the Reserve Bank of Fiji Report for August 2016 to July 2017.

Rabuka says that in March this year, the European Union adopted a broadened blacklist of tax havens adding Fiji and several other Pacific Island countries to the list.

Minister for Economy, Aiyaz Sayed-Khaiyum stated that it appears that the Leader of Opposition is perhaps under some wrong advice.

Sayed-Khaiyum says the list of countries picked out by Rabuka are predominantly small states and are developing countries.

He also stresses that the current level of liquidity has been around $350 million and is more than sufficient to meet the demand of the private sector.

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