Fiji’s foreign reserves hit record $3.9 billion

Fiji’s foreign reserves currently stand at $3.9 billion, which Government says is the highest nominal dollar value recorded in the nation’s history.

“Importantly, this provides Fiji with a strong financial buffer against external shocks and reflects the strength of economic activity and financial flows into our country,” Government said.

Government described the figure as a significant milestone as Fiji navigates a challenging global economic environment.

“For a small island nation, the past few years have brought extraordinary challenges,” Government said.

“From the global pandemic and its aftermath to wars in Europe and the Middle East, volatile fuel prices, rising food costs and continuing pressure on global supply chains, Fiji has had to navigate shocks largely beyond our control.

“Against this backdrop, maintaining foreign reserves at this level strengthens our ability to withstand disruptions and economic shocks beyond our shores.

“This achievement belongs to all of us. Our businesses, investors, workers and people across Fiji have continued to contribute, invest and keep our economy moving forward.”