Press Release No. 10/165

Press Release: Statement of an IMF Mission at the Conclusion of the Visit to Fiji

April 22, 2010

The following statement was issued in Suva on April 22, 2010 after the conclusion of an International Monetary Fund (IMF) staff visit to Fiji:

“An IMF team led by Mr. Jonathan Dunn visited Suva during April 7–21, 2010 at the invitation of the government to discuss Fiji’s economic reform efforts over the medium term and possible IMF financial support under a Stand-By Arrangement. The team met with Prime Minister and Minister of Finance Josaia Voreqe Bainimarama, Minister of Public Enterprises Aiyaz Sayed-Khaiyum, Reserve Bank of Fiji (RBF) Governor Sada Reddy, Permanent Secretary for Finance John Prasad and other senior government officials. The mission also met with donors, the private sector and public enterprise representatives. The mission collaborated with international financial institutions and they could play an important role in supporting reforms, including in helping to finance the program.

“The authorities and the mission agreed that the policies should be set so as to put Fiji on the path to sustainable and broad-based growth. We will continue to discuss policy measures required to ensure fiscal sustainability and specific structural reforms to underpin Fiji’s medium-term growth while protecting the vulnerable. We welcome the authorities’ intention to approach donors for support for key structural reforms of public enterprises and the civil service.

“The mission greatly appreciated the authorities’ openness and the frank discussions of the economic challenges faced by Fiji. The IMF looks forward to the possibility of making further progress toward these ends in the coming months that would ensure external stability and help catalyze donor support for Fiji’s reform efforts.”