05 October 2009 ~ 0 Comments

What has Saved Fiji from total Economic Collapse?

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The Commodore needs to listen carefully to this economist:

THREE things saved Fiji from complete disaster after the 1987 and the 2000 coups: the private sector, sugar and tourism, economist Dr Biman Prasad said yesterday.

He told the Training and Productivity Authority of Fiji’s Better Business Conference at the Novotel Convention that Centre that the private sector remained resilient.

“It is likely to remain the hope for a good economic recovery in the future,” Dr Prasad said.

“Many have suffered losses but have continued to operate in difficult conditions.”

Dr Prasad added that economics and politics were inseparable and offered some advice to the government.

“The government must understand that it is in control, it is running the country without any opposition,” he said.

H/T: Fiji Times

The problem is that Commodore Bainimarama handles the monetary policy (the Finance portfolio) for Fiji even though he has little clue or training in economics. Reports of military hoodlums beating up random people in the streets does nothing to promote tourism or private sector confidence. And as a primary product, sugar can never really do much to change the economy of Fiji from one based on primary production for Western consumption to one that brings about greater economic independence.

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