The newly appointed Governor of Reserve Bank Of Fiji, Sada Reddy said Fiji's economy could not sustain the increasing imports due to rapidly decreasing foreign reserves and decreasing exports.
Reddy said the only option was to devalue the Fiji dollar after trying everything including a substantial borrowing in 2006.
Reddy said people should realise that the global financial crisis is now having a huge impact on Fiji.
The hope now is that more dollars come in through exports, tourism and remittances and reduced imports due to higher prices of all imported items.
Economy could not sustain increasing imports
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