RBF stands paramount in supporting the Government during the pandemic - PM

RBF stands paramount in supporting the Government during the pandemic - PM

By Marika Rasekaseka
Tuesday 30/08/2022
Prime Minister Voreqe Bainimarama - [Photo: Parliament of the Republic of Fiji]

Prime Minister, Voreqe Bainimarama highlighted in Parliament today that despite the devastating economic contraction during the worst period of the pandemic, the path of stellar growth, RBF has been paramount every step of the way in supporting the Government.

While debating the motion on the Consolidated Review Report of the Reserve Bank of Fiji 2018/2019, 2019/2020 and 2020/2021 Annual Reports, Bainimarama says response measures during the review period in lowering the RBF’s key interest rate aimed to encourage demand, support consumption, and investment, increase allocation for substitution and export finance facility, and the disaster rehabilitation and containment facility which included support for MSMEs.

Bainimarama says the committee’s review highlights that Fiji’s foreign reserves have remained above the benchmark during the review period and remittances have increased along with a greater emphasis on digital transactions.

He says in the review, an increase of 283.5 percent was noted in mobile money services and we know there is unlimited potential in improving our digital finance sector as well as developing outsourcing as a key economic sector.

0% buffered00:00Current time00:00

FEATURE NEWS
2 children admitted in ICU while 2 in the Children’s Ward following accident in Nausori
A birthday celebration has turned into a tragedy as two children are currently admitted in the Intensive Care Unit while two are in the Children’s W...
3 minutes ago
LATEST NEWS
Coward act at Vunicuicui Labasa – Hem Chand
Opposition Member of Parliament, Hem Chand has strongly criticised and denounced the act of sacrilege where pages of Ramayan were torn at Vunicuicui ...
5 minutes ago

Ram Naumi reminds us to follow the path of righteousness – Lokia Ramayan Mandali member
As thousands of Hindus in Fiji celebrate the birth of Lord Ram today, the occasion serves as a reminder to follow the path of righteousness, truth ...
4 hours ago

Lord Ram’s Principles are eternal and inspirational – Prof Prasad
Truth, justice, righteousness, honesty and integrity are eternal, inspirational and unifying principles of Lord Ram that teach us to always put ...
4 hours ago

Nalini Singh and Dr Rachel Pillay to appear on fijivillage Straight Talk With Vijay Narayan at 7pm Wednesday
Fiji Women's Rights Movement Executive Director, Nalini Singh and Head of Family Health for the Ministry of Health, Doctor Rachel Pillay will appear ...
4 hours ago

Singapore 7s: Fiji to play Argentina at 6.56 tonight in second semi final
The Fiji Airways Men’s National 7s side will meet Argentina in the HSBC Singapore 7s second cup semi final at 6.56 tonight. This is after they ...
12 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Swire Shipping Fijian Drua Coach, Glen Jackson appear on fijivillage Straight Talk With Vijay Narayan
Swire Shipping Fijian Drua Coach, Glen Jackson appeared on fijivillage Straight Talk With Vijay Narayan from the Drua base in Nadi. Coming off ...
3 days ago

Reverend Tugi on fijivillage Straight Talk With Vijay Narayan
Watch the General Secretary of Fiji Evangelical Fellowship, Reverend Simione Tugi on fijivillage Straight Talk With Vijay ...
38 days ago

fijivillage Straight Talk with Vijay Narayan and William Parkinson
Chairman of Communications Fiji Limited, parent company of FM96, LegendFM, VitiFM, Navtarang, Radio Sargam, fijivillage and PNGFM, William Parkinson ...
39 days ago

TOP