Since its appointment in January 2007, the present government has been resolute to move Fiji forward to sustainable peace, stability and prosperity.

These are the words of Prime Minister Commodore Frank Bainimarama addressing the 42nd Asian Development Bank Annual Meeting in Bali.

Bainimarama explained to those present, the measures the government has taken on political and economic developments, domestic economic performance and outlook, macro-economic policy response and the partnership between Fiji and ADB as well as the Pacific Developing Member Countries.

He said during the period 2007 and 2008, the government has made considerable progress, particularly in consolidating public finances.

Bainimarama also said that to restore stability, the government had to implement some drastic measures to stabilize the financial sector, particularly foreign reserves adding like everyone else, Fiji has to contend with the unprecedented global financial crisis.

On the domestic front, he added that as a result of continued poor export performance and high imports, foreign exchange reserves have been seriously strained, due partly to the global economic conditions and the January floods affecting our major export earners like tourism and agriculture.