Global Crisis to have limited impact on “financial sector”

Bloggers this is from Savenaca Banuve, Fiji’s Governor of the RBF. Who is he trying to fool? With the big economies falling into a recession, how can small economies like Fiji, have limited effects? SV asks the Governor to define what is ‘limited effects?’ Australia is already predicting that if the downturn continues, then it stands to lose over 200,000 jobs by the end of next year. Fiji’s banking institution maybe lending to domestic entities, but some of these big local entities have their parent companies offshore. Furthermore, with remittance being one of, if not the largest foreign exchange flowing into Fiji, it is going to drop drastically when those sending monies have lost their jobs overseas and affect Fiji. The fact of the matter is Fiji being ‘insignificant’ in monetary terms and highly dependent on foreign investments, preferential treatment and grants, when the big economies wind down, Fiji could be snuffed out and with an illegal regime which is not recognised, despite the Gate’s judgement, getting international assistance will be much more harder to get. SV challenges Governor Naurbe to disclose what the true state of Fiji’s economic affairs is because we are confident that it ain’t healthy!

Friday, October 31, 2008

 

Current Global crisis will have Limited impact on Fiji’s financial sector Taken from / By: Google

Reserve Bank of Fiji governor Savenaca Narube says while the global crisis will affect the real economy, its impact on Fiji’s Banking system is limited.

Narube says Fiji’s banking system remains strong, resilient and adequately capitalised.

He added that this is because liquidity is high and the financial institutions do not have any direct exposure to the international financial market given that bank lending is confined to domestic Entities.

On the Bank’s objectives, Narube explained that while domestic inflation has reached a 20- year high of 9.8 percent in September, it is expected to fall in the coming months in line with the trend in crude oil and commodity prices.

On the other hand, the widening trade deficit continues to weigh negatively on the foreign reserves levels.

Given the Bank’s commitment to its objectives and the risks posed by the current global financial crisis, the Board has decided to keep the current monetary policy unchanged.

Fiji Broadcasting Corporation LTD

59 Responses to “Global Crisis to have limited impact on “financial sector””

  1. FijiGirl Says:

    Perhaps he’s not wrong.

    Perhaps we do have something to be thankful for (at last!) that our financial institutions did not expose themselves to the toxic debt of the US sub-prime markets. At least, if they were exposed, they have not yet figured it out.

    The sub-prime market has shown itself to be similar to the spread of venereal disease (look Budhau – something you’re an expert on!!) in that every time a bank trades with another bank, its takes the risk of trading with every other bank that bank has ever traded with.

    So our Bank may not have bought into sub-prime market, but wherever their money trail leads to, you can bet that they have been exposed somewhere down the track.

    Perhaps Mr Nairube is also misleading, or being mislead, in that he is taking into account the illicit foreign cash flows into Fiji.

    Like the earlier posting on ‘cheque-book diplomacy’, we know that there is money flowing in from India and China which no right-minded government would permit (what a pity we don’t have one of those).

    There is also the $400,000 or so a month still flowing in from Fiji soldiers in the British Army who send their cash home to look after their families.

    But those cash flows are not enough to sustain an economy, even one as screwed up as ours.

    The situation is far more precarious than Mr Nairube is willing to let on.

    Tabu soro.
    God bless Fiji

  2. FijiGirl Says:

    I should point out the money from our boys in the British Army is not illicit. But it is also not enough to sustain – and definitely not enough to grow – our economy.
    God bless Fiji

  3. Budhau Says:

    Hey guys, the dude said that “while the global crisis will affect the real economy, its impact on Fiji’s Banking system is limited. ”

    That means that the global crisis WILL affect the real economy – it is just that the impact on our banking system may be limited.

    The dude also gives some reasons as to why he believes this to be so.

    Do you guys want to shoot down his reasoning – go read the news story and SV’s comments – two different things.

  4. freedomfighter Says:

    Sorry folks
    Is this another trick to say there is still royal connection, as claimed by the High Court:

    President, Ratu Josefa Iloilo to visit London
    31 Oct 2008 02:04:00

    There’s a possiblity the President, Ratu Josefa Iloilo could be meeting with the Queen early next month.

    The President has been invited to be at the Saint James Palace in London early next month in his capacity as the Patron of the Order of Saint John Brigade Fiji.

    Government House has confirmed Ratu Iloilo’s attendance; he will be away in London for a week.

    A statement will be released later on whether an Acting President will be appointed, once the departure date is confirmed.

  5. Tim Says:

    All Pacific Island/Oceanic countries are “comparatively” better off, although I’ve noticed that Frank’s little lot are not only spending the family silver and leaving a legacy of debt for the next generation, but are still hung on an economic ideological agenda that is now wildly out of fashion, amd one that many suggest is the very reason the rest of the world is half way up the spout now. I seem to recall suggestions of privatising water and other state assets.
    One thing is for certain, and that is the RFMF is economically unsustainable in its present form – that is of course unless Fiji’s average Joe is to be consigned to a few decades of poverty.

  6. Jese Waqalekaleka Says:

    Hey Budhau,

    SV is asking what is Narube’s definition of ‘limited effects.’ Budhau, if Oz is forecasting loss of 200,000 jobs by the end of next year, then Fiji is going to feel a much more significant impact and worse, especially when you consider those already made redundant because of the coup.

    Narube, like any Governor needs to be seen as being ‘calm and responsible’ but that was like the US Secretary for Treasurer and its Chairman, but then when the shit hit the fan, they scrambled, but the horse had already bolted and is now wreaking havoc on the world economy.

    His reasons with all due respect are very shallow because experts the world over, who are much more experienced than he and look after budgets that Fiji can only dream about cannot even figure the mess they are in today.

    As a matter of fact, they don’t even know whether we’ve hit the bottom, despite the trillions already being pumped in the world over.

    So my reading between the lines of Narube he is saying, Fiji is already in deep shit because of the coup and this economic downturn in the world will put Fiji’s economy in worse shit.

  7. iloilo o jo Says:

    hey folks zero in on freedom fighter above

    lets flood buckingham palace with e mails, etc to cancel the invitation given the role this boci is playing endorsing and helping whatever this ig is doing abusing us and runnjng down the fiji eonomy, and so on.

    oilei ena vakamaduataki keda o ka qo. e na baci lai moce no, kidacala ka sasaga tucake ni sa oti na soqo, tacaqe qai tara cala e dua na tiki ni yagodra na marama bale na ranadi – vaka ea cakava mai denarau ena dua na gauna lekaleka sa oti.

    mudrau vakacava me da sa qai madaga i na koro.

  8. solivakasama Says:

    Bloggers, if Iloilo is already suffering from dementia as some reports are claiming, then let’s call it providence.

    Let’s send him our best wishes to meet with the Queen and other foreign dignitaries, so they can see for themselves the deep shit Fiji is in partly because of his incompetence and to provide entertainment for our foreign dignitaries!

  9. Far Out Says:

    Bula vinaka Soli,

    Don’t mean to prick your balloon but should we not speak (with hope!) too soon?

    Do you not think that the junta goons might have that angle covered? Two years of isolation (even from his family and vanua) coupled with daily doses of the junta’s version of ‘reality’ is probably going to mean a smooth sailing trip all the way to Her Royal Highness… and back.

    Then again, the ‘other side’ should hve that bit covered as well…

  10. IslandBoy Says:

    @FijiGirl & JW – homework questions please for Non-Financial 101 types.

    FG – does it make a difference that its not only the Fiji citizens in the Brit Army but also those working for the UN and in middle east countries, nurses working abroad, those in the US, Oz and NZ etc also sending money home that will help a little.

    JW – Tau, would you say that many of our people are “off the grid” in terms of being able to sustain themselves as they are not an integral part of the formal economy.

    What I mean is that many villagers do not have housing loans, bank accounts etc and for the most part can farm and fish for sustenance.

    However there are also thousands of us in the urban and peri-urban areas who do rely on robust economic activities to stay above the poverty line.

    For example, if rich folks decided not to have housegirls, not have the gardens done twice a week, not eat out as often, rent pirate DVDs instead of imDVD etc. those serving meals, housegirls, garden boys, retail shop assistants etc would all have a lot less take home pay.

    So my question is, in the global scheme of things, where exactly do we fit?

  11. IslandBoy Says:

    @SV – Kerekere kemudou na turaga, marama Naita, me keitou maroroi mai Burebasaga. Na veitalanoa cava lai caka, keitou sa na qai vakaloloma sara ga kina.

    I’m sure it does not make a difference to the Turaga Peresitedi if he goes or not, its lady SK who wants to trip around and of course all the support staff want their subsistence allowance to do a bit of shopping.

    Very funny if the US, Oz and NZ do not grant visas and they have to transit ICN to get to LHR.

    That will truly irk SK as she is planning a medical rest stopover in LAX so that all the Fijian community can come and vei siko and give her tons of shopping cash .

  12. Isalei Says:

    Flooding the UK embassy with faxes and emails may be a better option not to grant a visa seeing that he had approved of the “illegal” actions of the green army thugs in the Gaytes illegal ruling. Otherwise stopover in Incheon may not be too bad for ambitious SK, what with the infirm not taking recent trips abroad. More chance for entourage and body guards to duty free courtesy of the Lady!!! Maybe Buckingham palace should also be flooded with faxes and emails. Or he can be arrested once he sets foot in London for approving all the violations since 5/12/06, I mean according to Gaytes he did. Isn’t he guilty of crimes against humanity via those whose actions he approved? Who knows, maybe Fiji’s best chance to rid the occupant of the while house on the hill.

  13. Isalei Says:

    Sorry, “white house”

  14. newsfiji Says:

    Wailei, please let’s do something so the President doesn’t go…he’ll be bloody coughing and farting until the cows come home!

    Boidada ga o Buckingham Palace!

    Paleez…

  15. Say True! Says:

    Save Narube – what a load of crap, we will feel the flow on effect – but I don’t envy you – suppose you have to remain optimistic and work on solutions to keep the country afloat.

  16. Dauvavana Says:

    can the dalit gandooodhau answer my question, what does dalit mean??? we are all waiting in anticipation pleeease!!!

  17. Isalei Says:

    As long as Fiji remains over-dependent on foreign imports, foreign exchange, remittances which are very unstable economic indicators, we will continue to be vulnerable to global financial conditions. That is the reality of the domino effect. Sure SN dont have a gun pointing at his head to keep saying the right things or lose his job? Reminds me of what the prophet Isaiah said about false prophets saying “peace,peace” when there is no peace!!! Seems like we are living on false security and assurances, until the day of reckoning when reality strikes. Be alert and don’t say we weren’t warned.

  18. Say True! Says:

    I really feel sorry for the President, it is not fair to keep using him if his higher faculties have been impaired. Obviously from his pics he has parkinson’s and most probably dementia which are serious illnesses. To my respected naitas from Vuda please someone do the right thing, which only you can do, and let him age gracefully at home.

  19. Jon Jon Says:

    Boy if Russia can buy Iceland because of recession i am sure Vore will sell fiji to china. Narube predicting that Fiji’s economy will be ok.. my gosh just look at New Zealand they went through recession since august and iceland just bought by Russia. Narube shud do the honorable thing and tell the truth, stop lying to keep his job.. He needs to be sack on such report. I heard the chinesse naval ship at Suva will have a new base in Savusavu approved by Vore.The President can’t leave the Nasese White House cause he is Vore’s puppet. Not only that, his wife does not like to live in the village life of Vuda n therefore refuses to move out. Vore can’t let him out cause under the president Vore can use him in anyway he wants to do what he wants. Sad thing the president does not do anything and cannot speak out cause he has been told by the wife that Rupeni Nacewa will inform him of all government matters when the need arises and Rupeni Nacewa is representing Iloilo on all matters regarding Fiji. Our real president is Rupeni Nacewa who is doing Iloilo’s job. Thats credit for frank cause than the nation thinks iloilo is doing a good job. On the other side the Great Council of Chiefs are the ones that appointed Iloilo and have every right to sack him. The puppet president can’t see that cause he has dimentia. If he has a sense of humor then he would have done the rightful thing and resign. Yes on the other hand Vore is waiting to be President of the country now as soon as the his puppet dies. He can have all legal matters on wot he wants onces his puppet is gone.

  20. money lender Says:

    The real question on the health of Fiji’s economy is the paper market.
    The ability of Banks lending to other banks or organizations to companies etc or banks to individuals.Notice those ads in the paper of a company e.g FEA, Air PAcific offering bonds for a loan at x% for the period of y weeks.
    The US GDP report is out and it shows a negative growth.

  21. Budhau Says:

    JW, as usual you go this one wrong also.

    Narube has clearly said that the global crisis WILL affect the real economy of Fiji – he in no way was asserting that this crisis will have a low impact or “limited effects” on the real economy.

    What he said was that this crisis will have a limited impact on Fiji’s Banking System – unlike the impact it has had on Banking Systems in Europe, the US, Asia etc.

    The reason that Narube gave was that the liquidity was high and the financial institutions did not have any direct exposure to the international financial market given that the banks lending is confined to domestic entities.

    Narube explaination as to why there would be little impact on a banks seems to reasonable.

    What SV did was that it misinterpreted Narube’s statement – they thought Narube was claiming that this crisis would have a limited impact on Fiji’s economy – and how could that be when major economies were suffering. Narube did NOT say that. That is not what Narube said.

    If you want to disagree with Narube – you have to come up with a argument that this crisis WILL have a major impact on Fiji’s Banking Systems, not on Fiji’s economy – meaning that we will see banks in Fiji fail, people losing their deposits in the banks or the government having to come up with a rescue plan to save the banks etc.

    Come on you guys – at least some of you are intelligent enough to figure out what Narube was saying.

    You have the right to disagree with the guy but at least figure out WTF the guy was saying.

  22. Colin Bishop Says:

    Fiji may be protected somewhat by the very thing that is a source of one of its problems. Land ownership. One of the drivers of the subprime crash was bad loans on land and houses causing bad debts. Freehold land in Fiji has decreased in value by a reported 25% but is only 15% of the land available. This will probably equate to about 5% bad loans and this is sustainable by the Fiji banking system. Also a portion of these debts will be by expat owners so there is a positive in that the land may revert to local ownership.
    The economy of Fiji will be badly affected by a drop in tourism, decrease in foreign aid, decrease in remittances, and a return home of those losing their jobs overseas. The cost of borrowing overseas by the goverment will increase markedly so will be reduced with a subsequent drop in spending on development and infrastructure. This is the start of an economic downward spiral.

  23. Budhau Says:

    Colin – you have made some good points – can you now tell the NP at SV he piece above – jumping on Narube was a misunderstanding.

    Narube did not say that Fiji economy will not not be affected – all he said was that the Banking System seems to be fine, for now – unlike what is happening abroad.

    Hey BTW – if the price of freehold land has gone down 25%, and it is the value of freehold land that is factored into determining the value of native land to determine the lease amount – do you think the rent on Native Land would be going down also – I think they do a valuation once every five years, when is the next one due.

    So when you say that only 15% of the land is affected – you are wrong – all the land will be affected by declining values.

    BTW – I agree that this is the beginning of the economic downward spiral – hwoever, I don’t we can put the blame for this on the IG.
    What we have to look out for is whether the IG or the SDL would have handled this crisis better.

  24. Mark Manning Says:

    It’s clear from the report made by the reserve bank , and perhaps even clearer by what the reserve has not said , that there is no place in Politics , for Religion or Military intervention !
    I do hope , for the sake of the current generation of Fijians and for your Children’s future , that stability is re-established soon .
    It may well be time , to put your differences behind you and to start to resolve issues which otherwise may seem insurmountable .
    It is my hope , that the Commander , has it in his heart , to seriously take on board , the very important task of recognising that it is only he who can overcome this impasse and begin the all important task of repairing Fiji’s fragile economy , cultural differences and repairing it’s legal processes for the betterment of all .
    Perhaps it’s time for the key players here , to sit down and start recognising each others fears , strengths and weaknesses . To acknowledge what each individual and what each group can do to resolve issues sooner rather than later .
    The future of Fiji , it’s children’s futures and the type of society you all want , clearly now , is sadly , in the hands of a very few .
    I’m confident , that somewhere deep down , that there remains in the Commanders heart , a very real pride in his heritage and his country . I hope that he is able to open his heart to the possibility of seeing reason and resting back control from the Military Council and other hangers on , by seeing them for what they are . Because at the moment , Fiji seems to be a ship up the creek without a paddle , rudder or Captain I want to challenge the Commander to sincerely act on the very words he himself has been sprouting since before this coup began . He has said that he is concerned for Fiji’s future , well now is the chance for him to prove that he is sincere .

  25. Colin Bishop Says:

    -Budhau. My comment was not so much on the value of the land but that the native land is not so heavily mortgaged as it would be if it was freehold. It is the poor quality bank loans that have been a major driver of this problem.The drop in the value of land has increased the number of poor quality loans the banks have.
    This would be happening irrespective of who was in control but the current poorer economic enviroment caused by the current strife is making it worse.

  26. FijiGirl Says:

    IslandBoy – in answer to your question, I’m not sure that the money repatriated by Fijian workers for the UN, in the Middle East, the nurses etc will match up to the amounts sent home by our boys in the Brit Armed Forces.

    There are over 3,500 Fijians serving in the British armed forces, and most of them send large portions of their salary home thanks to arrangements with Fijian banks and insurers. Imagine all 3,500 have bought their own house and have a mortgage with the same Fijian bank. Once a month, the British Army transfers a lump sum payment (for all soldiers – around $500K) to that bank in Fiji, the bank arranges the mortgage payments and payments to family members. Because of the volume of cash involved each month, the bank does not charge the Fijian-Brit-Army soldiers admin or transfer fees.

    The groups you mention (nurses, rugby players, middle east workers, etc) are smaller in number (less than 3500) and would not send as much money home because they don’t have access to the same bank transfer systems – any money they send home, they have to pay a fee per transfer, the bank charges them admin for the mortgage arrangements, etc.

    All that aside, repatriated wages are far less, in total, than money we would otherwise make from tourism, fisheries, sugar, agricultural and handicraft exports if only we had a competent, democratically elected govt.

    Hope this helps.
    God bless Fiji

  27. kaiveicoco Says:

    Our economy was already weak well before this financial crisis came about.It was the RBF’s prudent and tight control on monetary policies which had been keeping us floating.Its government’s duty to back this up with tight fiscal polices.I hate to say this but LQ’s fiscal policies were not so prudent.RBF had been giving warnings from late 2005 and keeping a tight control on monetary policies then.

  28. Ablaze Says:

    Sad we want to discuss the ecomomy and the gobal credit crisis when people in Vatukoula and Tavua are surviving on chicken heads

    Everyone is in denial except those of us that do not support these bloody lunatics.

    Today’s Fiji Times no letters just this:

    / Letters to the Editor

    Ban chicken heads
    Saturday, November 01, 2008

    REPORTS from Tavua of people buying chicken heads to supplement their dietary needs show the poverty that has become so much a part of life in this country.

    When people can no longer afford to eat a decent meal once in a while, the economy has shrunk to a worrying level.

    We have been told consistently since December 2006 the economy was in a poor shape due to previous government and the slide would be arrested.

    Later the interim administration tried to influence the people into believing the slide had been stopped, foreign reserves restored and enormous savings had been made through prudent spending.

    Now we hear that people in the Tavua-Vatukoula area or northwestern Viti Levu are in dire straits.

    It has become quite obvious that despite its assurances, the interim regime has been unable to rescue the economy.

    Initially there was much fanfare over a clean-up at Vaukoula. We now see that the exercise was purely cosmetic and that the population there continues to suffer.

    Indeed, it is only through the hard work of non-governmental organisations that children in Vatukoula have had decent meals and returned to class.

    Many people who live around the once-thriving goldfields have no jobs and nowhere to go. The supermarkets know the extent to which chicken heads are sold. The people know the extent to which these heads and eaten.

    In the 1970s during a particularly gloomy time in the nation’s economic history, chicken feet were sold and eaten by the common people.

    But chicken heads are a first.

    Some will argue that those who eat this waste from poultry farms should turn instead to vegetables. Others will argue that the supermarkets are to blame for selling the produce in the first place.And there are those who offer the excuse that the heads are cooked and fed to animals. This is preposterous.

    The Health Ministry and the rural local health authorities must act immediately to rid supermarkets of chicken heads. And they must ensure that poultry companies do not sell this hideous product to supermarkets or direct to consumers.

    But that is only the first phase to the solution.

    Now that the evidence has been provided, it is time for the interim administration to look for employment to bring people out of poverty.

    This regime chose to take upon itself the task of building a better Fiji.

    Let it do so by rescuing the people who eat chicken heads in Tavua and Vatukoula.

  29. Jese Waqalekaleka Says:

    Budhau,

    SV had also challenged Narube to define what he meant by ‘limited impact.’ What do you think he meant?

    If people are resorting to eating chicken heads, is that the ‘limited impact’ Narube is referring to?

    If people are now eating chicken heads, what will be eating when the real downturn kicks in?

  30. Budhau Says:

    JW – you idiot – the point is defining “limited impact”
    The point is that your idiots took it as “limited impact on the Fiji economy and what Narube said was limited impact on our Banking System.

    You see to be an real idiots – and I guess you had some influence in the SVT administration.

    This ain’t about chicken shit – and BTW, the worldwide economic downturn – you can’t blame that on the IG – SDL and Qarase would have been up shit creek also with this worldwide crisis.

    Come guy – you still don;t get it – what Narube was talking about.

  31. Ablaze Says:

    Now we read, “supervise the children,” we as parents would like to do it naturally, but under this very difficult times we can’t always put our children first because in most cases we are either going around trying to get some money to put food on the table even if it means soup chicken heads with some bele.

    We are not interesting in the Fiji Development Bank is doing, we just want to work for a wage.

    This Govt is telling us to do this, do that but not in any way helping us. If the army boys are reading this, remember you guys are eating because you are being paid a wage – us we have to look for food each day just to feed our children.

    I heard someone say the other day, ” Oh we are not affected by this coup and everything is just normal.” Well let me tell you it maybe normal for them now but their children and grandchildren, it is a bleak future.

    Supervise children
    Saturday, November 01, 2008

    Update: 1:58PM PARENTS have been adviced to be careful and supervise their children when they are playing to avoid any mishaps.

    Colonial War Memorial Hospital general manager Dr Eloni Tora said his advice to parents was that prevention is better than cure.

    His comments came after an eight year old boy from Nausori was admitted at the CWMH Intensive Care Unit after he suffered 60per cent burns from a firecracker incident earlier this week.

    Yesterday Dr Tora said the patient, eight year old Karan Prasad was still in a critical condition in the ICU.

    The police and the National Fire Authority have adviced parents to supervise their children.

  32. Jese Waqalekaleka Says:

    Budhau,

    you pontificate as if you know it all.

    Well you don’t and arsehole.

    Narube’s ‘limited impact’ will mean hundreds of jobs losses in Fiji. You keep harping if SDL was still in power Fiji would have been up shit creek. Get over it man, SDL is not responsible for this shit. We will never know what financial situation SDL would have found themselves in because power was usurped from them.

    It is this illegal junta and Chodo who are responsible for Fiji’s financial mess before the economic downturn.

    Boci.

  33. Colin Bishop Says:

    A repaste from FijiBoardExiles

    “Whatever problems the economy had under democracy is going to be 10 times worse under nonsense dictatorship. At least if you are going to run something you ought to know as much or more than the next guy. Now Voreqe is trying to learn Econ 101 by trial and error, mostly error.

    It sounds as if we are trying to soften the People for bad news. The economy will no longer achieve the optimistic growth of 1.7% in 2008, but will be impacted by foreign influences. Let us keep in mind that with 9.8% inflation, and 1.7% GDP, you are talking about negative 8% or so in real incomes, or 8% per annum increase in Poverty. At 8% compounded, poverty will double in about 9 years.

    The answer is to plant, and for those People who do not have land – migrate.”

    I don’t agree with the last sentence but the maths is correct.

  34. ex Fiji Tourist Says:

    Some distant relatives have just come back from a holiday in Fiji.

    Including air fares, it cost them A$700 each for a week at some resort.

    They say that they were scared all of the time as the police seem inefficient.

    They also boast that they spent A$100 each on extra food and trinkets whilst there.

    The hotel may have had 4 bums on beds but they certainly didn’t make any money out of these people.

    They even bought their duty free grog back in Sydney when they landed as it was a lot cheaper than at Nadi.

    coup-coup land is loosing out big time because of bananasinpyjamas and his band of fools.

  35. Ablaze Says:

    Thanks ex Fiji Tourist – that is the sort of stuff that needs to be told. This bloody Regime makes out it is doing the right thing but what’s new any elected Govt could’ve have done it. In their case they are disadvantaged because everything they do is Illegal, will be Illegal and always Illegal.

    The people that go to Fiji are the ones that give money to their families or the ones that go because of the cheap offers.

  36. vuki Says:

    Wow, it took Budhau 24 hours to respond to Jeses’ comments on the state of the Narube reports of the economy.Budhau, please give it up! We all know that you’re the only number one IDIOT on this blog site.Tell your editor that he is doing a shitty job, cause your grammatical error is absolutely horrendous. Do you know there is spelling and grammatical check on all windows program? Boci!

  37. Mark Manning Says:

    so it’s been reported that Fiji is losing $2,000,000 a day !
    that despite having land , it’s no good without the labour force to work it and the agricultural aspect of it , and that tourism will be Fiji’s saving grace!
    What a mess and the longer you leave it like it is , the harder it will be to recover and the more likely it will stay the same . Poverty is due to increase from 46%of the population to 55% .
    It’s really time for someone to convince Frank to wake up to the reality that soon , no matter who is in power , there will be nothing to govern !

  38. Colin Bishop Says:

    Four of my staff in NZ asked my secretary to book them return tickets back to Fiji (They are Fijians) for the Christmas break.The woman at Flight Centre not realising it was for locals tried to talk her into booking tickets to Samoa instead as things were not very good in Fiji.

    This is a long term problem for tourism as once people get used to going to a paticular place they are inclined to return for their annual R and R.

  39. Ablaze Says:

    Yep all correct! Mark M, Colin Bishop, maybe normal but harder and more difficult for future generation.
    If this Regime doesn’t realize that Elections alone asap will begin the building process, the nation is doomed.

    I think they know but will not give it up because of the repercussion of their evil doings. It is a quagmire alright.

    What is going to be done with them is a big problem on its own??????????

    If I had my way I would tie them up with bags of cement, take them out to sea on Bainimarama’s navy fleet and blow them up.

  40. Mark Manning Says:

    ablaze , that wouldn’t cost much as they probably stole the explosives from the gold mine late november 2006 anyway , so you can borrow it from Frank .

  41. LUVfiji Says:

    lol.. MM! Borrow from frank to destroy frank!

    Where is this ‘fleet’ btw? Didnt realise Fiji had one.

  42. Save the Sheep Says:

    You can Email the Royal Family through the following web site.

    http://www.royal.gov.uk/

    Have done so already…..

  43. Isalei Says:

    Gee thanks @StS. Time to flood the royal line with petition from Fiji not to expect or invite the senile one. It will be at great risk to themselves. For us in Fiji, terrible terrrible embarassment. St Johns brigade office should also be flooded with faxes.

  44. FijiGirl Says:

    @ MM – oh, I get it!

    Frank knows that he can’t ever be our Best Prime Minister…

    … so he’s trying to become our Last !

    My cousins in UK are planning a protest outside the palace.

    Does anyone know the exact date and time of Iloilo’s visit?

    God bless Fiji

  45. Belijo Says:

    Maybe solivakasama is right. Because God works in mysterious ways, and what we may think is negative will turn out to be to our advantage. Let’s just pray and thank God for what he will do for us in Fiji!

  46. Budhau Says:

    “Reserve Bank of Fiji governor Savenaca Narube says while the global crisis WILL affect the real economy, its impact on Fiji’s Banking system is limited.

    Narube says Fiji’s banking system remains strong, resilient and adequately capitalised.

    He added that this is because liquidity is high and the financial institutions do not have any direct exposure to the international financial market given that bank lending is confined to domestic Entities.”

    You fricken idiots – where in the above remarks does Narube say that the current crisis will have a limited impart on Fiji’s economy?

  47. kaiveicoco Says:

    RBF has already learned tough lessons from the NBF fiasco.It was their tough regulatory requirements that forced Bank Of Hawaii and lately Habib Bank to pack up and leave our shores.So they have everything under control.I suggest to bloggers to log into todays age newspaper online from Melbourne to see how people in aussie are really struggling.Job losses are the order of the day now esp in architectural and building firms.

  48. Fiji Forward Says:

    You people must live in a dream world!!! Save Narube would be the most qualified person in Fiji to talk about its economy and realisitically no one is suffering here!! the amount of vacant land just shows one crtictical factor is this so called doomsday predication for Fiji’s economy, Sa rui Levu Na Vucesa!!! especially Kubuna and Burebasaga people who own more than half the land mass. So do something useful people who use fijian names here, go back to your villages, take those wanna be street beggars with you if they belong to your province, those that use english names, you can go back to where you came from, indian names, ask your fijian brothers and sisters to give you some land. Those from the island provinces, copra fetching good price now, SO GET A LIFE AND DO SOME POSITIVE WORK FOR YOUR COUNTRY INSTEAD OF WASTING YOUR TIME BITCHING ABOUT!!

  49. Isalei Says:

    Tch tch @FF, that’s rich coming from someone who is hellbent on supporting the lazy goons who failed to work hard enough but just use the power of the guns in their command to usurp a government without working the tough yards. Then distributing the freebies to his loyal bunch of freeby sapotas. Can you imagine, the head of a military (that hangs around waiting for peacekeeping missions) who did not even merit the position, becoming a forced Prime Minister overnight, with no sweat. Moral of the story FF (is it f##kface??) work hard cuts all ways. Moreso the freeriding thugs that have taken over our nation.

  50. Isalei Says:

    @FF, the boys in green and white (dranibota) have shown Fiji the way forward! Why work hard when all you need is a gun to have access to all the things they could only dream about thru their meagre peacekeeping allowances?What is hard work when all you need is to brainwash the foot soldiers who have no brains to rally against those Fijians in top positions who have worked hard to get where they are. All you need is a gun to land the top job of Prime Minister and then you have all the cowards of the camp running around to his bidding, yes sir, yes sir, Commander this, commander that…and the wives, Meri this… Meri that…because these are the things kids at the camp only dreamt about but now have access to. Thugs in green parading around in borrowed vehicles they could only dream of owning, wrecking them in the process cause they dont what its like to own one and having to look after it. Sa sega na rere! So Enjoy it while it lasts. Cause stolen sweets dont last! When we have an elected government that we will go back and work our land.

  51. Say True! Says:

    @ Fiji Forward – whose packing down the scrum with you – Shri or Taukei. Watch the gas emmisions. Can be pungent.

  52. Ablaze Says:

    @Isalei top comment – well said I agree whole heartedly. We are doing fine fighting for our rights and our democracy. We will do it right – don’t need the guns!

  53. newsfiji Says:

    Fiji Forward: Go and tell Voreqe to work hard for his money, register a political party, use the Farter Charter for his manifesto and stand in the next elections!

    Than, we can see the fun…if he loose’s then he can go and farm his land – if he has any!

  54. Fiji Forward Says:

    Well brother’s and sisiter’s who is talking about taking away the Army is asking for real trouble, as for now accept the fact, the reality!!! because if you dont, aint no use taking your frustrations out on this site, lako yani i Delainabua and tell how pissed and fucked off you really are!!! I’ll support you with buckets and mops to wipe your shit up!!

  55. Isalei Says:

    Vosa ni macawa qori FF! Qori gona na vanua dou dro toka ga kina…threats. as if we are frightened of guns! Don’t worry we have a plan in place, then we’ll see who’s left to carry the mops and buckets for the rest of you guys shits. We are giving you a very peaceful option, tell your precious vore to stand for elections you all join, use your boidada charter as your manifesto and get a truly multiracial party with all NCBBF rejects of society. If you win, we give you five years to do it right! If you lose, you all going to jail!

  56. Wuf wuf Says:

    And methink too dat FijiFoward vely vely frighten of PEOPLE POWER….

  57. FIji Forward Says:

    Wuf, Wuf small puppy thats reality check for you!!! am I for real, of cause I’m for real thats way I said those words because who would the next stupid PM to try and remove the Army, your father??? read back in history dumbass, the military was used by other people for the previous coups so give it a chance as it try’s to get things right and end all coups!!! 2000 situation should be easy for you to recollect your fading memeory. People Power lies in the ties between the vanua and the military which people like you who were born in the city, susu madrai dont understand. The people will not revolt against the military because in one way or the other all koro, tikina, yavusa, yasana, turaga ni vanua, matanitu vanua are related to the military. Geez even the indians know that, where did you come from, Mars, you dont understand fijian politics old dog!!!

  58. Wuf wuf Says:

    areh wah brother, pls dont swear, some ratus, adis, chiefs blogging here too areh yarr.

  59. Fiji Forward Says:

    Sorry aint for the dog stuff wuf wuf just read the news and feel the vibes, see the resistance against FB and IG crumble like Helen Clark in NZ and soon you will too!!! as I can sense in your comments resorting to gutter lingo or I forgot that you’re a desecendent of a dog, apologies for that…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: