A delegation from the International Monetary Fund today completed their two week visit outlining some recommendations for the Government to take into account to help rebuild the economy.
IMF's Asia and Pacific Department Division Chief Ray Brooks said Fiji faces considerable downside risks given its external vulnerabilities, and with the economy expected to contract by two and a half percent in 2009, the growth outlook remains highly uncertain due to political developments, the fragile nature of the global recovery, volatility of commodity prices, the risk of natural disasters and the complex structural reform agenda.
When asked about the authorities sweeping structural reforms that are required to spur growth, create jobs and reduce poverty, Brooks said Government should seriously think about shrinking down to its main core functions.
He adds the social impacts of redundancies arising from civil service and public enterprise reform and price liberalization, should be mitigated through well targeted subsidies to vulnerable groups.
Brooks adds the government has not made any formal request for the funding of the planned reforms.
The team met with Prime Minister Commodore Voreqe Bainimarama, this morning to present their recommendations.
During their two week visit they also met with the Reserve Bank Governor Sada Reddy, Acting Finance Minister Aiyaz Sayed-Khaiyum, senior government officials, members of the private sector and civil society.
IMF completes visit
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