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Fiji bucks global trend

WHEN the global financial crisis hit many economies of the world, Fiji bucked the trend and is still growing, says Attorney-General and Minister for Finance Aiyaz Sayed-Khaiyum.

Speaking to this newspaper in Washington DC during the International Monetary Fund and World Bank spring meeting, Mr Sayed-Khaiyum said the dampening of growth rate in England, in various other economies as well as a slow down in Asia, didn’t have much impact on Fiji which went against the trend.

“Sometimes when these assessments are done, we need to be able to distinguish between what we may call the mainstream economies that does get affected by the dampening of the growth where they have a direct relationship,” he said.

“Whereas in a country like Fiji that may not be sort of in the key economy sectors in the world, the leading economies we have some other new answers that make us still grow despite the fact that they might be dampening on the other side of the world.”

But of course Fiji, he said, had always been mindful of its deficit level.

“Our monetary level needed to be suitable and again there are other opportunities for Fiji, being in the hub and I think that is really taken to the floor through government policies.

“You have the Government that is focused on the future, creating Fiji as a hub, having good relationships with all countries in the world, creating a good investment environment and also adhering to international standards and now we have much greater connectivity to the rest of the world.

“Fiji Airways now connects Fiji to all continents in the world that rims the Pacific Ocean except South America so the ability to market your country becomes much easier.”