Fiji’s $10b Debt, High Risk: World Bank
The World Bank has classified Fiji’s debt of $10 billion as high risk, as it is 70% higher than the country’s gross domestic product.
Wednesday 01 March 2023 | 09:44
From left: World Bank’s country economist for Samoa Reshika Singh, lead economist in the Pacific David Gould and senior economist Mehwish Ashraf during the launch of the World Bank Pacific Economic Update on February 28, 2023. Photo: Nacanieli Tuilevuka
The World Bank has classified Fiji’s debt of $10 billion as high risk, as it is 70% higher than the country’s gross domestic product.
World Bank lead economist in the Pacific David Gould said the pandemic caused Fiji’s debt to grow rapidly, as its higher deficit was mainly financed by concessional debt.
He added despite being high risk, the debt was considered sustainable, and the government was still able to meet its current and future payment obligations.
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Story By: Nacanieli Tuilevuka
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