The impacts of the global financial crisis could force the Reserve Bank of Fiji to revise downwards the economic projections heading into the new year.

In their November Monetary Policy Statement, RBF Governor Savenaca Narube highlighted his growing concern over the impact of the global financial crisis on Fiji's economy, saying that the economic impact of the global financial crisis will further affect our economy.

Narube said due to this, growth prospects may be revised downward as we enter the new year and added that the repercussions of the international financial crisis are likely to exert considerable pressure on the balance of payments, which was already very weak.

However, Narube said foreign reserves remain adequate at $832 million, sufficient to cover 3.1 months of imports of goods.

He maintained that the primary focus of monetary policy in the medium term will continue to be on protecting our foreign reserves position and the Governor believes that the current fiscal and monetary policy mix is sustainable and appropriate for Fiji in their combined effort to preserve financial stability but at the same time lift economic growth.