Shine A Light: Expert, Business People Not Worried About Fiji’s Debt
Fiji shouldn’t worry about the size of its debt because the country has never defaulted in its repayment, says ANZ bank’s top Pacific Economist Kishti Sen.
The country’s national debt is nearing $10 billion. The coalition Government has set the National Economic Summit next month for businesses to discuss economic policies to help stimulate the economy.
Fiji’s interest payment as a proportion of total revenue is about 13.3 per cent. It used to be 21 per cent.
“We never defaulted at that rate, so 13.3 per cent we can definitely handle it, especially given the economic outlook, it’s so promising over the medium to long term,” Mr Sen said.
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Story by: ivamere.nataro@fijisun.com.fj
