(o) New Initiatives to Help Poor and Rural Sector

The Governor of Fiji’s Reserve Bank Sada Reddy (photo) says he is in talks with the Fiji Development Bank (FDB) to revert the FDB to its initial development-based role in the economy.


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Reddy told FijiLive he sees the FDB playing a leading role in providing micro-finance to Fiji’s rural economy as a way of accelerating economic growth beyond the estimated average level of 2 percent annual GDP forecast for the next several years. Microfinance could help double the output of Fiji’s agriculture sector and cut down our reliance on imports, thus whittling down Fiji’s huge, $2 billion balance of payments situation which Reddy says is the country’s biggest immediate impediment to growth. Click here for full report. Photo: NZ Herald.