IMF team meets RBF

Elenoa Baselala
Tuesday, September 21, 2010

OFFICIALS of the International Monetary Fund are in the country meeting with government officials as well as the Reserve Bank of Fiji.

Reservec Bank of Fiji Governor Sada Reddy confirmed the visit, saying this was a follow-up visit to Fiji’s request for financial assistance, previously estimated to be about $1billion. Mr Reddy said the officials had visited in April and this was a follow-up.

Last month, World Bank East Asia Pacific region vice president James Adams confirmed to this newspaper of the joint mission with IMF.

In that interview, he mentioned the mission would discuss the economic reforms Fiji needed to take.

During the April visit, the IMF had made a number of recommendations on economic reforms which Commodore Voreqe Bainimarama alluded to during his address at the announcement of the 2010 revised budget in July.

He mentioned the possibility of a standby arrangement (SBA). According to the IMF website, SBA has been used time and again by member countries and was upgraded in 2009 to be more flexible and responsive to member countries’ needs.

“When a country borrows from the IMF, it agrees to adjust its economic policies to overcome the problems that led it to seek funding in the first place,” the website said.

Commodore Bainimarama, in his July address, said the State would make its own decision and assessment on the implications of taking up such a facility.

One of the IMF recommendations was that government’s finances move from cash to accrual accounting.


Ho, there he goes again the recalcitrant oink who really thinks he knows it all in his ‘my way or the highway’ ignorance.

We have one suggestion for the recalcitrant,  know all (NOT) oink, when it comes to highways, fool, please go and play in the traffic, preferably carbon monoxide  laden Edinburgh Drive at peak hour.

Qai macala, vuaks.


  1. tora Says:

    First off Bai you gotta open up your ledger, do you know what a ledger looks like? You’ll have to tell these guys the truth cause the truth may set you free! Yeah can’t lie to these folks cause they knows your bullcrap the minute you open your mouth? So go ahead and tell them where the 13millions you didn’t write down or account for, in the ledgers as per the Fiji General public committee finding? You’re asking this world body for a 1 billion dollar loan? Do you have a capacity to repay this huge amount? We don’t think so and the world bank would be stupid to give your dictatorship Government any loan at all. Look at the bunch of idiots that you appoint from the Military to destabilized our Government? Listen to Pio Tikoduadua as an example, he’s claiming that nothing is happening in Fiji? That’s right numb skull, there is no economic,cultural social and or political advancement, except the killing an or beating-up of Fiji Citizens who dare to show opposition by the military goon squad.

  2. Veda Says:

    Io Tora, you’re absolutely right about these IG people-no brain and made from the same cloth-blockheads! I mean if the IMF is going to approve a loan to an illegal dictatorship Government than it will have to have certain guarantees from these blockheads. What kind of Guarantees would they want? i would imagine, it would be very similar to the British Commonwealth, The European Union and others had demanded?

  3. Annon. Says:

    Maybe the IMF could ask Mr. Reddy where the missing $200m in newly printed $20 notes has gone? If no satisfaction maybe they should ask someone else? How about Khaiyum? Currently in the international money laundering capital Geneva?

  4. Frank the Crank Says:

    Please don’t underestimate the incompetence and stupidity of international organizations such as World Bank, IMF and UN! The reason why Fiji is in a major mess is the ignorance of the UN which has militarized Fijian society, still accepts Frank’s murderers to act as peace keepers and does its UNDP business as if we had a normal situation in Fiji. IMF and World Bank may seem a little smarter at times but don’t hold your breath!

  5. Veda Says:

    Dina Sara annon was send over to check the Swiss Bank Account nei nona BOSO, the Minister of finance? O Kaiumi is only the Bag boy of his master.Me think-the bag boy is checking out to make sure the million dollar has been deposited into the master account.The question is:are there enough dough in the trough- to last them for their life time?

  6. Annon. Says:


    Sega Veda – ” container was valued at $200m in newly printed $20 notes”.

    Official Reserve Bank statement.

  7. Annon. Says:

    @ Veda.

    Word is they’ve hijacked $200m in freshly printed notes – Khaiyum is Switzerland negotiating sale. Sell at discount to money speculators who hedge Fiji currency will rise. Win win for regime – all they do is ring up UK printer – place order – just like you or I would order office stationary – really that simple.

  8. Annon. Says:

    C 4.5 reporting some of missing money intercepted in Nadi was obtained by unaware inbound tourist from AUS gov sanctioned bank in Toowoomba Queensland – before in was reported stolen?

    This saga still has long way to go – something very fishy about all this?

  9. tora Says:

    wonder if Sa-tuna-da reddy and john prasad has something to do with this money. Hey, these are thieves and we darn know their backgrounds since everywhere they worked money went missing and or someone else gets the blame? The question is:did the money made it into the boat? Was the crate in the boat empty when it left England?What was the attorney General doing in China? Was he there to signed for the special cargo before redirecting it to their Swiss bank account?

  10. peni Says:

    Hard to tell what has happen to that money, but all the top coup leaders are still going all over the globe.Maybe Bai won’t be coming back from China?MAYBE part of the money was banked in china?

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