Prof. Prasad meets with US Dept of Treasury to discuss economic developments in Fiji and the region

Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, met with the US Department of Treasury Deputy Assistant Secretary for Asia, Robert Kaproth, with discussions focused on economic developments in Fiji and the region, cooperation with multilateral financial institutions, regional project with the World Bank on correspondent banking relationship, climate financing and other areas of mutual strategic interest.

Professor Prasad highlighted the positive impact of the ongoing reforms in Fiji, particularly in strengthening democracy, good governance and macro-fiscal stability.

He highlighted Fiji's commitment to multilateralism and global and regional cooperation.

The Deputy Prime Minister emphasized the unique challenges of small island states and the need for concessional and grant financing, including the imperatives of World Bank IDA replenishment to support the much-needed investments in infrastructure, particularly in health, education, water and rural development.

The Deputy Assistant Secretary expressed the US Treasury’s continued support for Fiji, acknowledging the progress made and affirming a commitment to assist Fiji’s future growth.

With respect to enhanced regional solidarity, Professor Prasad noted the support received and stressed on the importance of continued collaboration and support to ensure stability and growth across the Pacific region.