This article has been published by the Fiji Times today:
Devaluation a 'positive' measure
The devaluation of the Fiji dollar by the Reserve Bank of Fiji (RBF) will have a positive impact on Fijis export industry, says Fiji Association of Banks chairman John Cashmore.
Mr Cashmore was commenting on the central bank's announcement of the 20% devaluation of the Fiji dollar. He said the devaluation would boost the tourism industry, which in turn would help the countrys economy. Mr Cashmore also agreed with the RBF's forecast that the cost of living would rise significantly but it would subside over the next 12 months.
The RBF, in its statement earlier today, said the devaluation would bring the Fiji Dollar in line with Fiji's major trading partner countries like Australia and NZ. "The Fiji Dollar had appreciated significantly by around 20% since 2007/2008," it explained. This, said the bank, was unsustainable and thus required adjustment in the form of a devaluation.
Can someone believe in this propaganda?
Devaluation a 'positive' measureThe devaluation of the Fiji dollar by the Reserve Bank of Fiji (RBF) will have a positive impact on Fijis export industry, says Fiji Association of Banks chairman John Cashmore.
Mr Cashmore was commenting on the central bank's announcement of the 20% devaluation of the Fiji dollar. He said the devaluation would boost the tourism industry, which in turn would help the countrys economy. Mr Cashmore also agreed with the RBF's forecast that the cost of living would rise significantly but it would subside over the next 12 months.
The RBF, in its statement earlier today, said the devaluation would bring the Fiji Dollar in line with Fiji's major trading partner countries like Australia and NZ. "The Fiji Dollar had appreciated significantly by around 20% since 2007/2008," it explained. This, said the bank, was unsustainable and thus required adjustment in the form of a devaluation.
Can someone believe in this propaganda?
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